MTCH

Match Group Inc

TMT, Consumer


Presented:02/23/2021
Price:$161.33
Cap:$41.95B
Current Price:$38.62
Cap:$9.96B

Presented

Date02/23/2021
Price$161.33
Market Cap$41.95B
Ent Value$47.39B
P/E Ratio83.14x
Book ValueN/A
Div Yield0%
Shares O/S260.02M
Ave Daily Vol2,677,993
Short Int4.93%

Current

Price$38.62
Market Cap$9.96B
Match Group, Inc. is a provider of dating products worldwide. The company‘s portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime. The company was founded in 1995 and is headquartered in Dallas, TX.

Publicly traded companies mentioned herein: Bumble Inc (BMBL), Match Group Inc (MTCH), Momo Inc (MOMO)

Highlights

The presenter is long shares of Match Group Inc (MTCH), the leader in online dating through its portfolio of brands including Tinder, Hinge, Match, OkCupid, PlentyOfFish (POF), Meetic, Pairs, and OurTime. Until recently, investors were focused on Tinder and Hinge monetization and international expansion. MTCH became more interesting to the presenter earlier this month when the company announced its $1.7B acquisition of Hyperconnect, a South Korean company that will push MTCH further into live streaming, which is a model that has performed well in Asia. He notes that the addition of live streaming can double a dating platform’s revenue and that MTCH had already entered the live streaming market with POF Live, which has experienced strong commercial success (MTCH doesn’t break out POF Live’s revenue contribution but has noted that it has performed well and is entirely accretive to the POF experience). The Hyperconnect acquisition appears to be MTCH doubling down on live streaming. In addition to rolling out a live stream offering to Tinder, MTCH will look to leverage its expertise to accelerate Hyperconnect’s growth and improve its profitability. The deal is expected to close in Q2’21 and the presenter anticipates a 2H’22 rollout for a Tinder live streaming offering, which is when MTCH will be lapping potentially difficult 2H’21 comps due to post-COVID-19 reopenings and normalization. The stock currently trades at ~$160 per share and he has a 12-month price target of $230 – $240 per share based on 2023 numbers.

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Idea Discussion

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