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Match Group, Bumble Get New Analyst Love
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Match Group, Bumble Get New Analyst Love

Dating apps may not have the greatest perception in society, but stock analysts are warming up to them. Both Match Group (NASDAQ:MTCH) and Bumble (NASDAQ:BMBL) got a little extra love from analysts that started coverage of the duo. Match Group gained some ground on the news, but Bumble backtracked just a bit in Tuesday afternoon’s trading.

Robert W. Baird analyst Vikram Kesavabhotla started both off at “outperform,” noting that the two have “…sufficient runway to support the growth of both companies.” That wasn’t all Kesavabhotla had to say about the two, though; he also pointed out that both have “…healthy competitive positions and attractive financial profiles over time.” Bumble is a good short-term play, thanks to a series of improvements. Match Group, meanwhile, will be better later on following a series of changes within the organization itself.

Naturally, Kesavabhotla’s outlook isn’t universally accepted. Recently, the Louisiana State Employees Retirement System pared back its Match Group holdings, citing overall uncertainty in the market space as well as in the broader economy. In fact, it slashed its position by nearly 46%. Yet there were also some noteworthy gains; Acadian Asset Management increased its holdings by just under 74%, and several other funds put in more cash on Match Group. A report from Motley Fool’s Brett Schafer, meanwhile, notes that Bumble’s primary market differentiation of targeting women should help it climb in the months ahead.

Interestingly, analyst consensus considers both Match and Bumble to be Moderate Buys with significant upside as well. For Bumble, its $27.24 average price target gives it 47.16% upside potential. Meanwhile, Match Group’s average price target of $61 gives it 68.37% upside potential.

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