Match Group (MTCH) Beats on Paying Tinder Signups - RBC Capital

RBC Capital analyst Brad Erickson reiterated an Outperform rating and $190.00 price target on Match Group (NASDAQ: MTCH) after the company reported results showing Tinder was better-than-feared and the key contributor to growth in the quarter. The bigger contribution from payer penetration (up 17%) vs. revenue-per-payer (RPP - up 1%) suggests the company is seeing incremental conversion, likely in Europe as Covid lockdowns ease.

The analyst stated "Tinder payer penetration was the standout in the quarter supporting our long-term eroding online dating stigma thesis, particularly outside of the U.S. That said, APAC remains a headwind for online dating (particularly the Hyperconnect acquisition) given COVID that will need working out. Lowering estimates on ongoing weakness in APAC".

For an analyst ratings summary and ratings history on Match Group click here. For more ratings news on Match Group click here.

Shares of Match Group closed at $152.94 yesterday.

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