From Financial Modeling Prep: 2024-12-12 12:04:00

Match Group (NASDAQ:MTCH) shares dropped over 3% today after Truist Securities cut their price target to $34. The company outlined growth strategies and financial stability plans at its Investor Day, aiming to generate over $1 billion in annual free cash flow for three years to fund buybacks and dividends.

Despite showcasing AI products and marketing initiatives, concerns linger over the slow turnaround of Tinder, Match Group’s flagship app. Management warned that significant progress may not be seen until 2026, leading to a cautious outlook among analysts.

With growth initiatives in place but full recovery for Tinder years away, Match Group faces a mixed near-term outlook. Success in achieving its ambitious goals will be crucial for the company to regain momentum in the competitive online dating market.



Read more at Financial Modeling Prep:: Match Group’s Growth Plans Impress, But Tinder’s T…