TD Cowen analyst John Blackledge lowered the firm’s price target on Match Group to $63 from $66 and keeps an Outperform rating on the shares. The firm’s downside Tinder scenario analysis suggests a 24% share upside from current levels if Tinder’s revenue grows 7% annually versus the firm’s current 10% compound annual growth rate estimates from 2023-2032. The firm forecasts accelerating topline growth through the rest of 2023, which will be driven by Tinder and continued momentum at Hinge. TD Cowen slightly lowered its FY27-FY32 estimates to reflect slower Other Brands, excluding Hinge, growth.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MTCH:
- Match Group put volume heavy and directionally bearish
- Match Group price target raised to $38 from $35 at Loop Capital
- Wolfe assumes Match Group at Peer Perform, says execution remains a question
- Match Group assumed at Peer Perform from Outperform at Wolfe Research
- 2 Online Dating Stocks with 30%+ Upside Potential, According to Analysts