BLOOMBERG – JPMorgan analyst Cory Carpenter advises investors to invest in Match Group, anticipating that its Tinder app will see double-digit growth in the upcoming quarter. Carpenter upgraded his price target for Match from $55 to $60, despite negative investor sentiment, and dubbed it his "top pick" over competitor Bumble. He argues that concerns about market saturation in online dating are exaggerated and predicts a 10% compound annual growth rate for the industry through 2026. While Bumble's shares have declined, Match has gained ~3% in 2023.
by Joel Leon
See full article at Bloomberg
See the top news on Match Group
See the top news on Tinder
See the top news on Bumble