Streetbeat News

MTCH

Match Group, Inc.

https://www.mtch.com

Industry

Internet Content & Information

Match Group, Inc. provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

Open

31.40

Mkt cap

7.7B

Volume

3.6M

High

31.43

P/E Ratio

13.77

52-wk high

42.42

Low

30.66

Div yield

N/A

52-wk low

27.66

U.S. stock futures indicate a potential downtrend on Tuesday after Monday's rally, with traders eyeing the upcoming inflation report and big bank earnings. Despite caution, a tech merger, Bitcoin ETF optimism, and rising oil prices could drive buying. Boeing's issues with the 737 Max 9 affected the Dow, but it recovered thanks to gains in Apple, Intel, Salesforce, and Walgreens. Juniper Networks surged on acquisition news by Hewlett Packard Enterprise, while Match Group rose on Elliott Management's stake. The International CES and JPMorgan Healthcare Conference may impact related stocks. Oil prices and Bitcoin are up, while Asian markets closed mostly higher.

Portfolio Pulse from Shanthi Rexaline

January 09, 2024 | 12:35 pm

Elliott Management has taken a roughly $1 billion position in Match Group, the online-dating company. The Wall Street Journal reported this late Monday, indicating a significant investment by the activist hedge fund in the owner of popular dating platforms like Tinder.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:57 am

Dating apps are increasing subscription costs and introducing premium features to boost revenues in a challenging market. Match Group (NASDAQ:MTCH) raised prices and launched new service levels, resulting in a 10% YoY revenue increase to $508 million in Q3 2023 despite a 6% decrease in Tinder's user base. The sector faces a decline in app downloads, user resistance to paid features, and the impact of the cost of living crisis on millennials.

Portfolio Pulse from Ananya Gairola

January 09, 2024 | 10:12 am

Hinge CEO Justin McLeod suggests that sending voice messages can increase the chances of securing a date by 40%. Despite the rise in popularity of voice and video communication, some users are hesitant to upload videos. However, McLeod emphasizes the effectiveness of combining photos with voice recordings to give a more complete sense of personality. Hinge, acquired by Match Group (NASDAQ:MTCH) in 2018, facilitated over 30 million dates and earned about $284 million in revenue last year.

Portfolio Pulse from Benzinga Neuro

December 30, 2023 | 1:39 am

KeyBanc analyst Justin Patterson provided updates on several app and entertainment companies. Netflix (NFLX) and Spotify (SPOT) are favored for their pricing power and product leadership, with Netflix's price target raised to $525 and Spotify's maintained at $255. Duolingo (DUOL) is rated Sector Weight with potential for future price increases. Match Group (MTCH) has a lowered price target of $48 due to concerns over its pricing strategy. Bumble (BMBL) retains an Overweight rating and $20 price target, with unchanged estimates. Patterson sees Spotify as his top pick, with Netflix expected to have low-teens revenue growth and raised EPS estimates for 2024 and 2025.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 7:33 pm

Keybanc has maintained its Overweight rating on Match Group (NASDAQ:MTCH) but reduced its price target from $56.00 to $48.00. Match Group's shares are currently trading at $35.82, and the new price target suggests a potential upside of 34.0%. Match Group, known for its portfolio of online dating services including Tinder and OkCupid, generates most of its revenue from user fees.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 5:00 pm

Keybanc analyst Justin Patterson has maintained an Overweight rating on Match Group (NASDAQ:MTCH) but has reduced the price target from $56 to $48.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 9:34 am

Epic Games CEO Tim Sweeney expressed no hard feelings towards Match Group for withdrawing from their antitrust lawsuit against Google. Sweeney praised Match Group's past contributions and emphasized Epic's commitment to fighting for all developers. Google settled with Match Group, agreeing to implement 'user choice billing' and to pay back $40 million to Match Group.

Portfolio Pulse from Ananya Gairola

December 13, 2023 | 10:35 am

Elon Musk responded to brands leaving his social media platform X after a report showed Instagram, owned by Meta Platforms Inc. (META), displaying sexualized content of minors. Brands like Apple Inc. (AAPL), Walt Disney Co. (DIS), IBM, Warner Bros. Discovery (WBD), and Washington Post have stopped advertising on X following Musk's controversial posts. Match Group Inc. (MTCH) and Bumble are also considering halting ads on Instagram. Over $75 million in ad revenue for X is at risk due to Musk's actions, despite his efforts to mitigate fallout, including an agreement with Israel on Starlink satellites.

Portfolio Pulse from Rounak Jain

November 29, 2023 | 8:43 am

Shares of companies in the communication, media, and entertainment sectors are up due to positive market sentiment following October's softer-than-expected inflation data. This data suggests there may be less need for aggressive interest rate hikes by the Federal Reserve.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 8:54 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.