MTCH

Match Group Inc. - Ordinary Shares - New

TMT, Consumer


Presented:08/09/2024
Price:$34.85
Cap:$8.99B
Current Price:$38.62
Cap:$9.96B

Presented

Date08/09/2024
Price$34.85
Market Cap$8.99B
Ent Value$11.57B
P/E Ratio15.12x
Book ValueN/A
Div Yield0%
Shares O/S257.90M
Ave Daily Vol5,651,099
Short Int6.65%

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), believing that Tinder’s value proposition remains strong despite current industry challenges and generational shifts. The thesis centers on the idea that online dating, particularly Tinder, is experiencing a cyclical shift rather than a structural decline. While media narratives highlight declining engagement among Gen Z and Tinder's struggles in major cities, the presenter disagrees and believes the company is lapping a cyclical trough in payer growth. Management’s recent moves, including unbundling products and focusing on core strengths, along with a rebound in payer growth should drive EBITDA growth above expectations going forward. Using her 2025 EBITDA of $1.4B she believes the stock deserves an 11x-12x multiple resulting in a $50 stock, with her bull case reaching $65 per share on the back 14x $1.6B of 2025 EBITDA.

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Idea Discussion

Commentor 1 - 2 weeks ago

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