10/21/2019 | Press release | Distributed by Public on 10/21/2019 09:32
Oppenheimer recently upgraded shares of Match Group from Perform to Outperform and established a 12-18 month price target of $89. The stock is down 27% from its highs on an overall correction in momentum names, confusion surrounding a likely debt transfer as part of the spin-off from IAC/Interactive and concerns over the Federal Trade Commission (FTC) lawsuit.
Additionally, Oppenheimer analysts are now less concerned about competition from Facebook Dating. Meanwhile, third party download data shows an acceleration in Tinder and localized offerings. Lastly, our survey work suggests that only 44% of U.S. singles are currently using an online dating product, suggesting material growth in overall usage.
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