Analyst John Blackledge of TD Cowen maintained a Buy rating on Match Group, retaining the price target of $40.00.
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John Blackledge has given his Buy rating due to a combination of factors including Match Group’s solid third-quarter performance and positive EBITDA results. The company’s revenue for the third quarter was largely in line with expectations, bolstered by better-than-expected results from Tinder, although Hinge revenue was slightly lower than anticipated. Despite a decline in Tinder’s monthly active users, new product features have been introduced that are expected to enhance user experience and potentially drive future growth.
Furthermore, Match Group’s adjusted EBITDA exceeded consensus estimates, reflecting strong operational efficiency and financial management. The company’s fourth-quarter revenue guidance is slightly below expectations, but the EBITDA outlook remains positive, indicating robust profitability. These factors, along with strategic initiatives and share buybacks, support the Buy rating with a price target maintained at $40.