Tinder Growth Spurs JPMorgan to Tell Investors ‘Swipe Right’ on Match Group
- Broker now prefers the dating-app giant over peer Bumble
- Concerns on the profusion of online dating apps are ‘overdone’
Analyst Cory Carpenter expects overweight-rated Match’s Tinder app to return to double-digit growth in the third quarter and favors the Hinge-owner over competitor Bumble.
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For investors it’s “time to swipe right” on dating-app company Match Group Inc., according to a JPMorgan analyst.
Analyst Cory Carpenter expects overweight-rated Match’s Tinder app to return to double-digit growth in the third quarter and favors the Hinge-owner over competitor Bumble Inc. He assigned Match “top pick” status and increased his price target on the stock to $60 from $55, despite what he calls the worst investor sentiment since its 2015 trading debut.