Match Group (MTCH, Buy, $55 target) Tinder Trough Deepens as Buybacks Expand
What’s New: In this first take following tonight’s results, we touch on:1. 1Q24 roughly in-line, but 2Q24 and 2024 guidance lower
2. Tinder trough deepens, but still on track for 3Q24 sequential payer growth
3. Hinge growth in line with guidance: RPP better than expected, payers a little light
4. Adjusted OI margins solid, but higher GAAP items called out
5. Share buyback target moved to 75% of FCF from prior 50% target
Match Group is a provider of dating products available in over 40 languages to its users all over the world through applications and websites it owns and operates. The company operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number other brands. Through its portfolio of brands, the company provides tailored products to meet the varying preferences of its users. All the company's products enable users to establish a profile and review other users' profiles without charge. Each product also provides additional features, some of which are free, and some of which require payment depending on the particular product.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.