Jefferies notes that the U.S. price for Tinder+ has been increased by 88% to $7.50 per month for a six month subscription, up from a prior price of $4 per month. The firm had expected to see price hikes, but the magnitude of the increase gives it confidence that Tinder was "significantly under-monetizing its users" given that Bumble’s (BMBL) lowest tiered U.S. subscription is priced at $10 per month for a six month subscription. The firm maintains a Buy rating and $65 price target on shares of Tinder parent Match Group (MTCH).
Published first on TheFly
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Read More on MTCH:
- Bumble price target raised to $21 from $20 at Morgan Stanley
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- Match Group upgraded to Overweight from Equal Weight at Barclays
- Bumble price target raised to $27 from $20 at Piper Sandler
