New Street Research - Match Group Inc. (4MG) Match Group (MTCH, Buy, $54 target) MTCH First Take: Positioning for a break up?

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New Street Research

Dan Salmon

EUR 9313.00 For Business Accounts Only

Match Group (MTCH, Buy, $54 target) MTCH First Take: Positioning for a break up?

What's New: In this first take following tonight’s results, we focus on:
1. Tinder a la carte (ALC) rollout delayed, clouding outlook for the flagship app
2. Tinder MAU trends under more pressure since mid-Sept: back to school hangover?
3. Are new segment profit disclosures a precursor to “exploring strategic alternatives?”
4. What does all of this imply for the Investor Day? And the CFO transition?
5. What to do with the stock

07/11/2024 1 EN

Underlying

Match Group Inc.

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.

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US57665R1068 Berlin Stock Exchange United States

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Analysts

Dan Salmon

Other Reports on these Companies

New Street Research

Match Group (MTCH, Buy, $54 target) Quick Thoughts Ahead of the Print

Ahead of Wednesday’s PM’s earnings report and Thursday’s AM’s call, we review what to look for in the shareholder letter, listen for on the call, our top questions for management, potential positive and negative catalysts, and key debates, controversies, and popular topics of late, specifically: 1. Can Tinder payers return to year-over-year growth in 4Q24? 2. If so, how much payer growth is being driven by ALC only buyers vs subscribers? 3. Details on the refreshed a la carte offering 4. How long until Hinge hits $1B in revenue and cements itself as MTCH’s second driver? 5. No major changes ex...

EUR 9313.00

November 5, 2024 November 5, 2024 1 EN

New Street Research

Match Group (MTCH, Buy, raising target to $54 from $53) Raising 2025-2027 Tinder estimates slightly as ALC rollout approaches

Tinder is expected to resume sequential payer growth in 3Q24, and 4Q24 year-over-year payer growth is now in focus – will it be positive or not? With its ecosystem cleanup past the one-year anniversary, we expect investors to increasingly focus on the refresh of its a la carte (ALC) offering which is getting underway. In this note, we review where Tinder ALC stands today, key product features at each of Tinder, Bumble and Hinge, and what the new ALC offering at Tinder could entail.

EUR 9313.00

September 10, 2024 September 10, 2024 1 EN

MELI US (Neutral, TP: $2,000, -5%) MercadoLibre Credit cards drive big NIMAL and group EBIT miss

Top line trends were in-line/slightly ahead, with only a very slight slowdown in local FX GMV. However, there was a miss at both the gross profit level (2.5%) and, to an even greater extent, at operating income (25%, 19% ex-one-off) and net income (18%).

EUR 9313.00

6h / 34m 6h / 34m 1 EN

Jonathan Chaplin

Jonathan Chaplin

Frontier Post-3Q24 Model Update

This note focuses on changes to the model following 3Q24 results. Earlier today, we published a comprehensive review of results. Our view of the company remains unchanged, whether as a standalone company or as an acquisition target. Intrinsic value is $64 (but they may only get $48.50 in a deal now).

EUR 9313.00

18h / 50m 18h / 50m 1 EN

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Match Group (MTCH, Buy, $54 target) MTCH First Take: Positioning for a break up?

Match Group (MTCH, Buy, $54 target) Quick Thoughts Ahead of the Print

Match Group (MTCH, Buy, raising target to $54 from $53) Raising 2025-2027 Tinder estimates slightly as ALC rollout approaches

MELI US (Neutral, TP: $2,000, -5%) MercadoLibre Credit cards drive big NIMAL and group EBIT miss

Frontier Post-3Q24 Model Update

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