Analyst Omar Dessouky of Bank of America Securities reiterated a Hold rating on Match Group, with a price target of $38.00.
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Omar Dessouky has given his Hold rating due to a combination of factors impacting Match Group’s financial performance. The company reported third-quarter revenue that aligned with expectations, but its EBITDA was affected by significant legal and restructuring charges. However, on an adjusted basis, the EBITDA exceeded market expectations, demonstrating some resilience in its financial operations.
Looking ahead to the fourth quarter, Match Group’s revenue guidance is slightly below market expectations, primarily due to challenges such as user experience testing at Tinder and the impact of Azar’s block in Türkiye. Nevertheless, the company anticipates higher EBITDA driven by cost savings from alternative payment methods and asset sales. Despite potential for margin expansion through these savings and ongoing product updates, near-term revenue growth remains constrained, leading to the Hold rating as the company navigates these mixed signals.
In another report released today, UBS also maintained a Hold rating on the stock with a $36.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTCH in relation to earlier this year.