Morgan Stanley lowered the firm’s price target on Match Group (MTCH) to $31 from $33 and keeps an Equal Weight rating on the shares after the company laid out its medium-term vision at its investor day, including an “ambitious” product and financial roadmap to turn around Tinder and maximize consolidated free cash flow. Tinder and Hinge are undergoing “compelling AI-led product evolutions,” but the firm needs to see product drive user growth to underwrite the story given continued near-term pressure, the analyst tells investors, noting that the firm lowered FY25 and FY26 revenue views by 3% and 4% and EBITDA and AOI forecasts by 3% and 2%, respectively.
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Read More on MTCH:
- Match Group price target lowered to $36 from $39 at Stifel
- 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