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Match Group downgraded at BofA after Tinder and Hinge disappoint
The Fly

Match Group downgraded at BofA after Tinder and Hinge disappoint

BofA downgraded Match Group (MTCH) to Neutral from Buy with a price target of $35, down from $50, following significantly weaker-than-expected Q4 guidance and “a big step back” in Tinder payer trends. The firm’s previous Buy rating on Match was predicated on the company being in the early stages of getting Tinder back to user/payer growth, Hinge continuing to deliver healthy revenue upside, and widening market share gains versus competitors, but following the Q3 report the firm says “all three criteria are now underdelivering.”

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