Match Group (MTCH, Buy, TP: $55) Initial Thoughts Ahead of Tomorrow's Call
What's New: In this brief note we touch on:1. Tinder payers still expected to grow beginning 3Q24
2. Material change in M&A tone: the Elliott impact?
3. New $1B share buyback authorization
4. Strong growth continues at Hinge, MG Asia bouncing back
5. Elevated marketing spending
6. How will AI features be monetized?
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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