Match Could Gain From Hinge's Sustained Growth and Tinder Recovery, Analyst Says - Match Group (NASDAQ:MTCH)

Match Group said third-quarter revenue increased 1% year-over-year to $810 million, which beat average analyst estimates of $795.43 million. The company reported quarterly earnings of 44 cents per share, which beat average estimates of 41 cents per share.
Paying users increased 2% year-over-year to 16.5 million. Match Group said it plans to focus on Tinder growth as it heads into 2023.
Match Group expects fourth-quarter revenue to be between $780 million and $790 million versus average estimates of $810.35 million.
Keybanc analyst Justin Patterson hosted meetings with Match's CFO and COO Gary Swidler last Friday and came positive around the product roadmap, 2023 outlook, and expense controls.
He continues to view Match as an improving execution story that should benefit from sustained growth at Hinge and a recovery in Tinder.
He views 2023 guidance for 5-10% revenue growth and at least flat margins as reasonable.
Patterson reiterated the Overweight rating on Match and raised the price target to $75 from $74 prior.
Price Action: MTCH shares traded higher by 3.93% at $44.71 on the last check Monday.
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