Singapore markets close in 6 hours 4 minutes
  • Straits Times Index

    3,255.74
    -15.83 (-0.48%)
     
  • Nikkei

    26,321.33
    -690.00 (-2.55%)
     
  • Hang Seng

    23,808.77
    -481.13 (-1.98%)
     
  • FTSE 100

    7,469.78
    +98.32 (+1.33%)
     
  • BTC-USD

    35,989.46
    -868.83 (-2.36%)
     
  • CMC Crypto 200

    818.89
    -36.92 (-4.31%)
     
  • S&P 500

    4,349.93
    -6.52 (-0.15%)
     
  • Dow

    34,168.09
    -129.61 (-0.38%)
     
  • Nasdaq

    13,542.12
    +2.82 (+0.02%)
     
  • Gold

    1,815.90
    -13.80 (-0.75%)
     
  • Crude Oil

    86.88
    -0.47 (-0.54%)
     
  • 10-Yr Bond

    1.8480
    +0.0650 (+3.65%)
     
  • FTSE Bursa Malaysia

    1,512.26
    -3.50 (-0.23%)
     
  • Jakarta Composite Index

    6,612.02
    +11.20 (+0.17%)
     
  • PSE Index

    7,256.45
    +2.84 (+0.04%)
     

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.
  • BMBL
  • MTCH

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