Online dating picture somewhat improved in October, says Citi

Citi analyst Ygal Arounian says the firm’s October dating tracker found modest improvements to monthly active users and time spent growth across the industry, including at Tinder, but that the overall still remains negative. All industry level key performance indictors remain in decline, but Citi saw stable download declines, and another month of moderating active users and time spent declines, the analyst tells investors in a research note. The firm says that while compares were easier in October, it finds continued improvements in the data encouraging. However, more solid and consistent positive growth is needed to address concerns regarding industry growth, it adds. Citi points out that Tinder declines notably improved and while a positive trend, is still down double-digits. It has a Buy rating on Bumble and Neutral rating on Match Group (MTCH).