Analyst Ken Gawrelski from Wells Fargo maintained a Hold rating on Match Group (MTCH – Research Report) and keeping the price target at $32.00.
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Ken Gawrelski has given his Hold rating due to a combination of factors including the Match Group’s recent financial performance and future outlook. The company’s fourth-quarter results were generally in line with expectations, but the guidance for the first quarter of the following year fell short of what analysts had anticipated. Specifically, the revenue and EBITDA projections were notably lower than the market consensus, which indicates potential challenges ahead.
Additionally, the company appointed a new CEO, Spencer Rascoff, whose leadership might introduce some uncertainty. Despite some product initiatives being reiterated, the cautious approach towards 2025 margins and the need for more concrete evidence of product traction to support a recovery in Tinder’s revenue growth contributed to a more conservative outlook. These elements collectively support the Hold rating, suggesting investors might want to wait for clearer signs of improvement before making further investment decisions.
In another report released yesterday, Citi also maintained a Hold rating on the stock with a $32.00 price target.