KeyBanc lowered the firm’s price target on Match Group to $48 from $56 and keeps an Overweight rating on the shares. The analyst believes more app and entertainment businesses are transitioning from user or payer growth stories to pricing stories. Within this context, the firm is more cautious about Match’s growth algorithm. The company’s price increases “leave something to be desired,” the analyst tells investors in a research note. The firm struggles to see why pricing on Match’s Plus, Gold, and Platinum subscriptions increased by over 30% in most cases. It believes Tinder pricing may ultimately need to come down in more geographies.
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