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Investing.com - Susquehanna raised its price target on Match Group (NASDAQ:MTCH) to $45.00 from $40.00 on Thursday, while maintaining a Positive rating on the online dating company’s stock. The stock has shown strong momentum, gaining nearly 9% in the past week and trading close to its 52-week high of $38.77.
The firm cited early signs of improvement in Match Group’s business as it executes its turnaround strategy under CEO Spencer Rascoff, particularly noting moderating headwinds at its flagship Tinder platform.
Susquehanna highlighted Match Group’s unified AI effort and accelerated product roadmap as steps in the right direction, showing progress in the company’s strategic initiatives.
The research firm acknowledged that near-term choppiness is likely to continue and that the growth turnaround will take time, but remained optimistic about the company’s prospects.
Susquehanna justified its Positive rating by pointing to Match Group’s undemanding valuation at approximately 8 times EBITDA, its category-leading position, best-in-class product innovation, and confidence in the new leadership team.
In other recent news, Match Group’s second-quarter results have drawn attention from multiple analyst firms, leading to a series of stock price target upgrades. Match Group reported revenue of $864 million, which was flat compared to the previous year but exceeded the high end of guidance by $4 million, primarily driven by the Tinder app and advertising revenue. RBC Capital raised its price target to $39 from $35, maintaining an Outperform rating, citing the CEO’s focus on product and engineering improvements. Wolfe Research also increased its price target to $42, noting "green shoots" in user trends and marketing strategies. Morgan Stanley (NYSE:MS) adjusted its price target to $35, highlighting momentum across the company’s portfolio and favorable foreign exchange conditions. JPMorgan raised its target to $33, pointing to early signs of a Tinder turnaround. Evercore ISI increased its price target to $38, describing the results as a "modest beat and raise," also benefiting from foreign exchange factors. These developments suggest a cautiously optimistic outlook from analysts regarding Match Group’s performance.
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