Piper Sandler Reiterates Overweight Rating on Match Group (MTCH)

Piper Sandler analyst Matt Farrell reiterated an Overweight rating and $45.00 price target on Match Group (NASDAQ: MTCH).

The analyst commented, "Match Group is one of the top performing stocks in our coverage universe quarter-to-date (up 22%). Heading into year-end, we think the stock provides a favorable set-up given the opportunity for several catalysts and improving investor sentiment. In addition, we think the reset at Bumble could create an incremental opportunity (although potentially small) for Tinder heading into year-end and early next year. We also think Hinge growth momentum remains solid, remaining on-track to reach $1B in revenue in a few years. Finally, we see the company’s strong profitability and free cash flow generation providing an attractive valuation. We reiterate our Overweight rating and our $45 PT."

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 $37.09 yesterday.

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