Match Group downgraded to Hold from Buy at Jefferies

Jefferies analyst James Heaney downgraded Match Group (MTCH) to Hold from Buy with a price target of $32, down from $40. Tinder continues to see weak monthly active user trends with new verification requirements potentially adding to headwinds against a “high bar” for a second half of 2025 improvement and user acceleration into 2026, the analyst tells investors in a research note. Moreover, the firm is seeing a consumer shift away from “swipe” to “prompt” dating. Hinge’s strength and the possibility of private equity interest “may help provide a floor” for Match shares, but there are few catalysts for upside, contends Jefferies.