Oppenheimer analyst Jason Helfstein last night downgraded Match Group to Perform from Outperform without a price target. While the company unveiled an "encouraging" product roadmap and evidence of improved a la carte revenue, the stock is now a "show me story" after losing a record number of paid subscribers, "stoking bear concerns" that online dating is maturing in Europe and the U.S., the analyst tells investors in a research note. The firm says Match’s valuation is "not compelling" at current levels with 17% potential downside versus 14% upside. Oppenheimer downgrades the shares pending stabilization at Tinder.
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Published first on TheFly
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