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DALLAS - Match Group (NASDAQ: NASDAQ:MTCH), a $4 billion market cap company with a robust 72% gross profit margin, announced today the promotion of Hesam Hosseini to Chief Operating Officer, effective April 1, as part of a planned leadership transition. Hosseini will succeed Gary Swidler, who will step down from his role as President but will continue to serve as an advisor until July 4, 2025. According to InvestingPro analysis, the company currently trades below its Fair Value, suggesting potential upside opportunity.
Hosseini, currently the CEO of Evergreen & Emerging Brands, has been with Match Group since 2008 and has held various leadership positions. In his new role, he will oversee Corporate Development, Corporate Strategy, Match Group Trust & Safety, the Evergreen & Emerging business unit, and the advertising sales team. His tenure at the company has been marked by driving innovation and operational excellence, contributing to Match Group’s long-term growth.
Spencer Rascoff, CEO of Match Group, expressed confidence in Hosseini’s leadership abilities, highlighting his deep understanding of the business and proven track record in scaling and launching brands, driving efficiency, and executing strategic projects.
Hosseini shared his excitement about the opportunity to further innovate in the digital connections space, emphasizing the company’s history of redefining how people connect and his commitment to pushing those boundaries even further.
The company also recognized Swidler’s significant contributions during his decade-long tenure, which included taking the company public, driving strategic acquisitions such as Hinge, and achieving substantial revenue and profit growth. Tom McInerney, Chairman of the Board, praised Swidler’s strategic leadership and his role in developing talent within the company.
Swidler reflected on his time with Match Group, expressing pride in the company’s evolution and its success in meeting the needs of individuals seeking meaningful connections.
Match Group is a leading provider of digital technologies designed for creating meaningful connections, with a global portfolio of brands available in over 40 languages worldwide. The company generated $3.8 billion in revenue over the last twelve months, and analysts maintain a bullish outlook with a consensus recommendation of 1.69 (Strong Buy). For deeper insights into Match Group’s financial health and growth prospects, explore the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
This report is based on a press release statement.
In other recent news, IAC/InterActiveCorp (NASDAQ:IAC) reported a notable miss in its Q4 2024 earnings, with an EPS of -2.39 compared to the forecasted 0.16, although revenue exceeded expectations at $989.3 million, surpassing the forecast of $936.66 million. The company generated $352 million in cash flow during 2024, indicating robust financial management despite the earnings miss. IAC has been actively restructuring, with its subsidiary Dotdash Meredith (NYSE:MDP) Inc. assuming obligations under a credit agreement with JPMorgan Chase (NYSE:JPM) Bank, N.A., following a merger. This restructuring includes providing comprehensive financial statements for the past three years.
KeyBanc Capital Markets recently raised its price target for IAC to $64 from $60, maintaining an Overweight rating, influenced by IAC’s strong performance in the Dotdash Meredith segment. Meanwhile, Benchmark adjusted its price target to $100 from $105, retaining a Buy rating, reflecting ongoing investor interest in IAC’s strategic direction. JMP Securities also revised its price target to $64 from $70, keeping a Market Outperform rating, highlighting optimism for IAC’s growth prospects once macroeconomic conditions improve.
Additionally, IAC is preparing for the spin-off of Angi, scheduled for March 31, 2025, which is expected to be a significant milestone for the company. Throughout these developments, IAC’s leadership, including Chairman Barry Diller, has emphasized strategic investments and the potential resumption of share buybacks, signaling a proactive approach to capital management. These moves are aligned with IAC’s ongoing commitment to enhancing user experience and exploring opportunities for growth.
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