Yahoo Finance Match Group (MTCH) Launches Social-First Dating App Archer
Match Group MTCH recently launched Archer, a ground-breaking dating app designed for gay, bisexual and queer men. Through this innovative platform, the dating experience for this community has evolved from a place of anonymity to celebration and pride.
Archer is built upon the values of community, self-expression and user safety, aiming to provide a unique and enjoyable dating experience. The app is initially launching in the New York City area this summer and has plans to roll out nationally within the year. Archer is currently available for pre-registration in the App Store and Google Play and will be available for download later in June.
This dating app also introduced an in-app health hub, a digital center designed to provide access to medical and mental health resources. This will include information on counseling centers, STD/STI testing areas, prescribed medication to help prevent HIV infection and more to create a psychologically safer environment.
The company has exciting plans to enhance its app experience later this year by introducing new features that integrate social and dating elements. Furthermore, the app plans to introduce group chats, facilitating the formation of communities within the app.
Match Group Inc. Price and Consensus
Match Group Inc. price-consensus-chart | Match Group Inc. Quote
Archer to Boost Match Group’s Top Line
Archer, the latest dating app launched by Match Group, represents a significant breakthrough in the industry after nearly a decade of limited innovation. Developed in collaboration with advocates from the gay, bisexual and queer community, Archer leverages AI technology and extensive market research, including surveys and interviews to establish a safer environment for men to pursue connections on their own terms.
With purposeful features designed to prioritize user safety and self-expression, Archer offers a unique mobile user experience. The app enables deeper self-expression through photo-focused profiles, feed-style layouts, various viewing options, group messaging and the absence of predetermined labels. By combining elements of social media and dating, Archer fosters opportunities for community building within the app.
The company wants to use the app to transform the dating industry as a whole. This app will boost the number of users as well as the top line of the company.
Shares of Match Group have declined 8.3% year to date against the Zacks Consumer Discretionary sector’s increase of 4.1% in the same time frame.
The Zacks Consensus Estimate for MTCH’s second-quarter 2023 earnings is pegged at a profit of 46 cents per share, indicating a year-over-year decrease of 48.31%. The Zacks Consensus Estimate for revenues is pegged at $810.78 million, indicating year-over-year growth of 2.05%.
Zacks Rank & Key Picks
Currently, Match Group carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
some better-ranked stocks from the broader sector, which investors can consider are Cinemark CNK, Crocs CROX and DraftKings DKNG, each carrying a Zacks Rank #2 (Buy) at present.
Shares of Cinemark have gained 87.7% year to date. The Zacks Consensus Estimate for Cinemark’s second-quarter 2023 revenues is pegged at $868.74 million, indicating a year-over-year rise of 16.75%. The consensus mark for earnings is pegged at 52 cents per share, which has increased by 9 cents over the past 30 days.
Shares of Crocs have gained 3% year to date. The Zacks Consensus Estimate for Crocs’ second-quarter 2023 revenues is pegged at $1.05 billion, indicating year-over-year growth of 8.56%. The consensus mark for earnings is pegged at $2.96 per share, which has decreased by 4 cents over the past 30 days.
Shares of DraftKings have gained 114.5% year to date. The Zacks Consensus Estimate for DraftKings’s second-quarter 2023 revenues is pegged at $714.58 million, indicating year-over-year growth of 53.28%. The consensus mark is pegged at a loss of 29 cents per share.
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