Optimism on Dating Stocks Bumble, Match May Finally Be Rewarded
- Analysts missed this year’s selloff in Match, Bumble
- Earnings estimates for the companies have stabilized
Photographer: Gabby Jones/Bloomberg
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Analysts unanimously missed the plunge in shares of Match Group Inc. and Bumble Inc. this year, and still don’t have a single sell rating on the online-dating companies. The difference is, now they have a much better chance of being proven right in their optimism.
Investors fled the stocks as a weakening economy curbed subscription revenue and the strength in the dollar cut into international sales. Analysts have raced to keep up, slashing their earnings estimates and price targets on the stock.