- Wolfe Research analyst Deepak Mathivanan initiated coverage of Match Group Inc (NASDAQ:MTCH) with an Outperform rating and $163 price target in a note partially titled “A Lot to Love.”
- The price target implies an upside of 25%.
- Mathivanan believes that online dating is one of the few categories on the Internet where there is still significant room left for secular penetration gains.
- Online dating should benefit from mid-term post-pandemic tailwinds, Tinder “remains a juggernaut,” Hinge is seeing strong growth, and its story is still in the early innings.
- Apple Inc’s (NASDAQ:AAPL) App Stores fee change could “nicely” boost Match’s EBITDA margin.
- Match provides online dating products with a vast portfolio of different online dating service providers, including Tinder, Match.com, OkCupid, PlentyOfFish, and Meetic.
- Price Action: MTCH shares traded lower by 2.92% at $130.31 on the last check Tuesday.
Levi Crushed Earnings Estimates And Raised 2021 Forecasts
Maybe casual Fridays are dominated by jeans and other denim products, but last Thursday was Levi Strauss & Co's day (NYSE: LEVI). Both sales and earnings for the fiscal second quarter topped the analysts' forecasts, as the demand for famous denim products is on the rise in China and the U.S.
