Match Group Investors Rejoice In Spite Of A Catfish Lawsuit

Match Group stock rises almost 5% after a lovers’ long weekend

Michael O’Mahony
Oct 8 · 2 min read

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Women using Tinder on her phone
Women using Tinder on her phone
Photo by on Unsplash

Since close of business Friday, Match Group’s (NASDAQ: MTCH) stock has risen almost 5%. While we’d all like to believe this was down to a particularly amorous weekend of swiping, the bump has been attributed to the analyst company Nomura upgrading the stock from a ‘neutral’ to a ‘buy’, setting a target price of $88 per share.

Nomura Holdings looked at the potential downside of an upcoming lawsuit against the Tinder parent company from the Federal Trade Commission and deemed it to be limited, declaring the “$60 million penalty would be insignificant.” The lawsuit in question is reprimanding Match Group for “fake love interest advertisements” in order to fraudulently obtain sign-ups. It seems the catfishing goes to the very top!

We ask the question: is Facebook in trouble again?

Facebook Dating

With the launch of Facebook (NASDAQ:FB) Dating, Match’s stock has seen a slight downturn from its August highs of $91.77 per share, however we’ve outlined why Tinder shouldn’t be afraid of Facebook and are fully supportive of waving a heart-shaped red flag in front of this bull market.

Read about how Facebook’s copying Alphabet’s other bets strategy.

Match Group’s Outlook

The company is one of our top gainers here on the MyWallSt app and for good reason. With a move in July that allowed Tinder to bypass the Play Store’s cut of its subscription fees, the launching of its own original content, and an ongoing expansion into Asian markets, the outlook for Match Group is very promising. Long may the hunt for love continue.

MyWallSt operates a full disclosure policy. MyWallSt staff currently holds long positions in Match Group and Facebook.

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Michael O’Mahony

Written by

Michael is our SEO specialist here at MyWallSt. He’s got his finger on the pulse.

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