Evercore ISI downgraded Match Group (MTCH) to In Line from Outperform with an unchanged price target of $35. Shares were down nearly 8% today in response to “weak” Q1 guidance and an “abrupt” CEO transition as well as a “modest” FY25 guide-down, the analyst tells investors. Despite “some bright spots,” including the appointment of Spencer Rascoff as CEO, the firm exits Q4 EPS with “lower conviction in the ’25 recovery path and long-term targets,” the analyst tells investors.
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Read More on MTCH:
- Morgan Stanley increases Match Group price target, says bull case in play
- Closing Bell Movers: Alphabet down over 7% after Q4 results
- Match Group Appoints Spencer Rascoff as New CEO
- Match Group Reports 2024 Results and Dividend Announcement
- Match Group sees Q1 revenue $820M-$830M, consensus $851.03M