Stifel lowered the firm’s price target on Match Group (MTCH) to $36 from $39 and keeps a Hold rating on the shares. While the firm thought the company’s inaugural investor day outlining the company’s strategic priorities and medium-term financial outlook was “a thorough presentation that offered plenty of initiatives for Bulls to remain optimistic about a better story to tell from here,” it adds that updated Q4 guidance with an incremental $15M forex headwind means reported figures are likely to fall below the provided guidance range. Additionally, the shareholder returns story continues, with a new dividend and $1.5B buyback, though the firm believes the growth outlook through 2027 was “a bit lighter than many had hoped.”
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Read More on MTCH:
- Match Group sees total revenue CAGR 4%-6% 2024-2027
- Match’s Tinder sees 2025 reported revenue down mid-single digits
- Match Group sees Q4 revenue, ex-FX, within range given on Q3 earnings call
- Match Group initiates dividend of 19c per share, announces $1.5B share buyback
- Shareholder Alert for Match Group (NASDAQ:MTCH)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
