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Match Could Gain From Hinge’s Sustained Growth and Tinder Recovery, Analyst Says

Match Group said third-quarter revenue increased 1% year-over-year to $810 million, which beat average analyst estimates of $795.43…
byAnusuya Lahiri
November 7, 2022
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  • Match Group said third-quarter revenue increased 1% year-over-year to $810 million, which beat average analyst estimates of $795.43 million. The company reported quarterly earnings of 44 cents per share, which beat average estimates of 41 cents per share.
  • Paying users increased 2% year-over-year to 16.5 million. Match Group said it plans to focus on Tinder growth as it heads into 2023.
  • Match Group expects fourth-quarter revenue to be between $780 million and $790 million versus average estimates of $810.35 million. 
  • Keybanc analyst Justin Patterson hosted meetings with Match’s CFO and COO Gary Swidler last Friday and came positive around the product roadmap, 2023 outlook, and expense controls. 
  • He continues to view Match as an improving execution story that should benefit from sustained growth at Hinge and a recovery in Tinder. 
  • He views 2023 guidance for 5-10% revenue growth and at least flat margins as reasonable.
  • Patterson reiterated the Overweight rating on Match and raised the price target to $75 from $74 prior.
  • Price Action: MTCH shares traded higher by 3.93% at $44.71 on the last check Monday.
  • Photo by Solen Feyissa from Pixabay
 
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Cannabis (De)Unionization: Here’s What’s New On The Frontlines Of Labor Organizing Among Weed Workers

By Jelena Martinovic
April 24, 1:04 PM
Employees at Cresco Labs Inc.'s Fall River, Massachusets-based cannabis cultivation operations have voted overwhelmingly to approve their first union contract with the United Food and Commercial Workers (UFCW) Local 328 more than three years ago. Now, the gardeners, supervisors and other agricultural workers at Cresco's operations opted to reverse the process. With their contract nearing the June expiration date, the workers opted to de-unionize, instead of negotiating another organized labor deal, according to documents obtained by MJBizDaily.Meanwhile, employees at Curaleaf Holdings, Inc.'s store in Phoenix, Arizona joined a 4/20 protest on Saturday, organized by United Food and Commercial Workers International Union Local 99 at a company store on East Camelback Road near North Seventh Street. The protesters asked for safer working conditions, full-time employment and a living wage, reported Arizona Central.

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