Match Group price target raised to $44 from $37 at Stifel

Stifel analyst Mark Kelley raised the firm’s price target on Match Group to $44 from $37 and keeps a Hold rating on the shares. While Match having “handily beat” Q2 estimates, offered upside to Q3 Street numbers and ticked the fiscal year outlook a bit higher “typically” would lead to a positive reaction for shares, the firm believes “the buy-side is almost exclusively focused on Tinder Payer trends,” and notes those were guided down in Q3 and likely again in Q4. While “encouraged” by the commentary around Tinder revenue acceleration, the firm remains on the sidelines until there is line of sight to a Tinder Payers inflection point.