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MTCH

Match Group

$42.10

0.54 (1.30%)

, IAC

IAC

$149.83

0.74 (0.50%)

10:09
02/21/18
02/21
10:09
02/21/18
10:09

Match Group slips after analyst cuts rating on Tinder slowdown

Shares of Match Group (MTCH) are slipping after JPMorgan analyst Doug Anmuth downgraded the stock to Neutral as he believes Tinder's peak Gold surge is now behind, there are fewer product catalysts in the first half of 2018, and shares appear fairly valued. MOVING TO THE SIDELINES: In a research note to investors this morning, JPMorgan's Anmuth downgraded Match Group to Neutral from Overweight, with a $42 price target, following an "impressive run" in the shares. The analyst acknowledged that he continues to believe Match Group is well positioned longer-term as the global leader in online dating. However, Anmuth argued that Tinder net additions are likely to trend down and return to more normalized levels in the first half of the year, with the peak Gold surge behind and fewer product catalysts expected ahead of its next monetization push in the second half of the year. While the non-Tinder brands are more stable, the upside is likely limited to low-single-digit subscription growth, he contended, adding that shares are fairly valued at current levels. Anmuth also told investors that he is shifting his preference to own IAC (IAC) shares over Match Group as he believes the former currently represents a more compelling value. WHAT'S NOTABLE: Earlier this month, Oppenheimer analyst Jason Helfstein raised his price target for IAC to $175 from $161, citing the appreciation of Match Group shares, a slight bump up in his Angi Homeservices (ANGI) price target to $15 from $14, and the company's "strong" fiscal 2018 guidance on Publishing. The analyst reiterated an Outperform rating on IAC stock. PRICE ACTION: In morning trading, shares of Match Group are fractionally down to $42.03.

MTCH

Match Group

$42.10

0.54 (1.30%)

IAC

IAC

$149.83

0.74 (0.50%)

ANGI

Angi Homeservices

$14.60

0.58 (4.14%)

  • 26

    Feb

MTCH Match Group
$42.10

0.54 (1.30%)

02/02/18
JPMS
02/02/18
INITIATION
Target $175
JPMS
Overweight
IAC resumed with an Overweight at JPMorgan
JPMorgan analyst Doug Anmuth resumed coverage of IAC (IAC) with an Overweight rating and $175 price target. The current share price implies the company's non-Match Group (MTCH) and Angi Homeservices (ANGI) assets are valued at negative $1.4B enterprise value, Anmuth tells investors in a research note. He believes IAC represents one of the most compelling values in his coverage universe. The analyst also raised his price target for Match Group to $39 from $34 and reiterates an Overweight rating on the name.
02/05/18
PIPR
02/05/18
NO CHANGE
Target $40
PIPR
Overweight
Match Group price target raised to $40 from $33 at Piper Jaffray
Piper Jaffray analyst Sam Kemp raised his price target for Match Group to $40 saying Tinder appears to be positioned to show Q4 upside. Further, January was Tinder's strongest month yet, which should prompt upwards revisions to 2018 revenue guidance, Kemp tells investors in a research note, citing Tinder's App Store grossing rank. The analyst reiterates an Overweight rating on Match Group.
02/09/18
OPCO
02/09/18
NO CHANGE
Target $175
OPCO
Outperform
IAC price target raised to $175 from $161 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for IAC (IAC) to $175 citing the appreciation of Match Group (MTCH) shares, a slight bump up in his Angi Homeservices (ANGI) price target to $15 from $14, and the company's "strong" fiscal 2018 guidance on Publishing. The analyst maintains an Outperform rating on IAC.
02/21/18
JPMS
02/21/18
DOWNGRADE
Target $42
JPMS
Neutral
Match Group downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Doug Anmuth downgraded Match Group to Neutral saying he sees fewer catalysts in the first half of 2018 now that the surge in Tinder Gold has passed. The analyst views the stock as fairly valued and has a $42 price target for the shares.
IAC IAC
$149.83

0.74 (0.50%)

02/06/18
BMOC
02/06/18
INITIATION
Target $16
BMOC
Outperform
Angi Homeservices initiated with an Outperform at BMO Capital
BMO Capital analyst Daniel Salmon initiated Angi Homeservices (ANGI) with an Outperform rating and a price target of $16. Salmon says the merger with IAC's (IAC) HomeAdvisor creates a " clear market leader in the home services marketplace", and believes the company has "ample" room for growth within the $700B total addressable market. The analyst also sees longer-term catalysts of continued shift to online home services, rising home ownership among millenials, improved product, and scalable margins.
02/09/18
WELS
02/09/18
NO CHANGE
Target $173
WELS
Outperform
Wells Fargo sees 'compelling' risk/reward in IAC, ups target to $173
Wells Fargo analyst Peter Stabler continues to see a "compelling" risk/reward in shares supported by his sum-of-the-parts valuation model. He raised his price target for the shares to $173 from $168 and maintains an Outperform rating on the name following the company's Q4 results. Positive revisions to Publishing more than offset by investments behind video and applications, Stabler tells investors in a post-earnings research note.
ANGI Angi Homeservices
$14.60

0.58 (4.14%)

02/06/18
02/06/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Redfin (RDFN) initiated with a Buy at Jefferies. The firm also initiated Zillow (Z, ZG) with a Hold. 2. Liberty Oilfield Services (LBRT) initiated with an Overweight at Piper Jaffray, an Overweight at Morgan Stanley, a Buy at Citi and Goldman Sachs, an Overweight at JPMorgan, an Outperform at Wells Fargo and an Outperform at Evercore ISI. 3. Industrial Logistics Property Trust (ILPT) initiated with a Buy at BofA/Merrill, an Outperform at RBC Capital and JMP Securities and a Neutral at UBS. 4. Angi Homeservices (ANGI) initiated with an Outperform at BMO Capital. 5. Jones Lang LaSalle (JLL), Newmark (NMRK) and CBRE Group (CBG) initiated with an Outperform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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$25.10

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TEF

Telefonica

$8.70

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$279.71

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, USO

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CZWI

Citizens Community Bancorp

$14.15

(0.00%)

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PKD

Parker Drilling

$0.30

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  • 02

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RSLS

ReShape Lifesciences

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BOX

Box

$26.13

-0.26 (-0.99%)

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ALDX

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$7.95

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GLRE

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RVI

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LECO

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KMX

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JCP

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VIX

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ASFI

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$NSD

NASDAQ Market Internals

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(0.00%)

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$NYE

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DIS

Disney

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  • 07

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