MTCH

Match Group Inc. - Ordinary Shares - New

TMT, Consumer


Presented:07/10/2023
Price:$43.49
Cap:$12.11B
Current Price:$38.62
Cap:$9.96B

Presented

Date07/10/2023
Price$43.49
Market Cap$12.11B
Ent Value$14.65B
P/E Ratio42.22x
Book ValueN/A
Div Yield0%
Shares O/S278.46M
Ave Daily Vol5,221,466
Short Int7.33%

Current

Price$38.62
Market Cap$9.96B
Match Group, Inc. engages in the provision of dating products worldwide. Its 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)

Highlights

The presenter is long shares of Match Group Inc. (MTCH) driven by optimism around CEO Bernard Kim's share purchases and the prospect that growth may be reaching an inflection point. The presenter notes that the main issue has been poor communication from management, which has resulted in weaker investor confidence and a disconnect between investor expectations and the recent declining user results. Despite these challenges, he is comfortable owning the stock as it is trading at 9.7x his 2024 EBITDA and ~8.8% FCF yield. Even if Tinder declines, the presenter believes the stock can be valued based on Hinge's growth and 35% profit margins. This provides a relatively low downside risk compared to the potential upside from an inflection in Tinder’s growth. The presenter expects positive numbers by the fourth quarter, contrary to pessimistic views stemming from market saturation.

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Idea Discussion

Commentor 1 - 2 weeks ago

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