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 expected for margin outlook and capital returns.
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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