Wolfe Research Sees Sharp Upside In Match Group, Bets On Online Dating, Apple - Match Group (NASDAQ:MTCH)

Wolfe Research analyst Deepak Mathivanan initiated coverage of Match Group Inc MTCH with an Outperform rating and $163 price target in a note partially titled "A Lot to Love."
The price target implies an upside of 25%.
Mathivanan believes that online dating is one of the few categories on the Internet where there is still significant room left for secular penetration gains.
Online dating should benefit from mid-term post-pandemic tailwinds, Tinder "remains a juggernaut," Hinge is seeing strong growth, and its story is still in the early innings.
Apple Inc's AAPL App Stores fee change could "nicely" boost Match's EBITDA margin.
Match provides online dating products with a vast portfolio of different online dating service providers, including Tinder, Match.com, OkCupid, PlentyOfFish, and Meetic.
Price Action: MTCH shares traded lower by 2.92% at $130.31 on the last check Tuesday.