UK markets closed
  • NIKKEI 225

    26,402.84
    -508.36 (-1.89%)
     
  • HANG SENG

    20,120.68
    -523.62 (-2.54%)
     
  • CRUDE OIL

    110.20
    +0.61 (+0.56%)
     
  • GOLD FUTURES

    1,841.40
    +25.50 (+1.40%)
     
  • DOW

    31,277.02
    -213.05 (-0.68%)
     
  • BTC-GBP

    24,198.70
    +926.60 (+3.98%)
     
  • CMC Crypto 200

    673.68
    +21.45 (+3.29%)
     
  • ^IXIC

    11,503.75
    +85.60 (+0.75%)
     
  • ^FTAS

    4,038.94
    -71.55 (-1.74%)
     

Match and Bumble in Focus as Goldman Calls Them a Buy

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

By Sam Boughedda

Investing.com — Online dating companies Match Group Inc (NASDAQ:MTCH) and Bumble Inc (NASDAQ:BMBL) drew an upgrade by Goldman Sachs to buy from neutral.

Shares of Match rose 1% on Thursday while shares of Bumble were flat.

Analyst Alexandra Steiger trimmed the price target of both, Bumble to $54 per share from $57 and Match to $157 from $162.

The re-ratings were part of a broader research note on the online dating industry, with Steiger telling investors that both companies are "well-positioned to benefit from a number of structural industry tailwinds in the years ahead."

"Match Group&Bumble have underperformed the S&P 500 in '21 and we see the current valuation as an attractive entry point into a multi-year compounded growth story.”

However, the analyst added that although the current valuations are attractive, there may need to be a greater degree of "risk-on" investor behavior for better stock performance levels.

In addition to the positive rating by Goldman, Piper Sandler initiated Bumble with a neutral rating and Match group with an overweight rating.

Related Articles

Match and Bumble in Focus as Goldman Calls Them a Buy

KLM's CEO Elbers will not serve third term -statement

BMW cautious on bringing batteries in-house despite rising sales

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting