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Match Group Inc’s stock reached a new 52-week high, hitting 38.78 USD, reflecting a significant milestone for the company. According to InvestingPro analysis, the company appears undervalued at current levels, with analysts setting price targets ranging from $31 to $49. Over the past year, the stock has experienced a notable increase, with a 1-year change of ~13%. This upward trajectory in the stock price highlights growing investor confidence and positive market sentiment towards Match Group, which operates popular dating platforms such as Tinder and Hinge. With a market capitalization of $9.3 billion and an impressive 72% gross profit margin, the company demonstrates strong fundamentals. The recent price level marks a recovery from previous market fluctuations, indicating potential growth prospects and strong performance in the online dating industry. InvestingPro subscribers have access to 7 additional key insights about Match Group’s performance and outlook.
In other recent news, Match Group reported second-quarter revenue of $864 million, which remained flat compared to the previous year but surpassed the high-end of guidance by $4 million. JPMorgan noted that this outperformance was largely due to the Tinder app and advertising revenue, maintaining a Neutral rating while raising the stock price target to $33. Morgan Stanley also increased its price target to $35, citing momentum across Match Group’s portfolio and favorable foreign exchange conditions, although they expect Tinder revenue growth to be negative in 2025. Wolfe Research raised its price target to $42, highlighting improvements in monthly active user trends and marketing strategies. RBC Capital increased its price target to $39, describing the second-quarter results as "constructive" and noting the new CEO’s focus on product and engineering improvements. Susquehanna raised its target to $45, citing early signs of improvement in the business, particularly at Tinder. These developments reflect a general optimism among analysts about Match Group’s strategic adjustments and potential recovery trajectory.
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