Return to: Q3 2025 Match Group Earnings

• October 31, 2025: Buy, $40: TD Cowen analyst John Blackledge said Match Group is expected to post a 2% y/y increase in revenue in Q3, boosted by 28% revenue growth at Hinge and favorable foreign exchange conditions. Blackledge also pointed out that Match Group’s management has shown promising progress in improving Tinder’s product and user experience, which is anticipated to improve its performance. He views the introduction of new features such as “Modes” interface, Interactive Matching and Face Check as positive. He said the stock is seen as undervalued with an 8x EV/EBITDA and an 11% free cash flow yield.
• October 20, 2025: Equal weight, $35→$34: Morgan Stanley analyst Nathan Feather said they are focused on GenAI winners heading into Q3 2025 earnings.
• September 29, 2025: Morgan Stanley analysts said after a meeting with Match Group management that the Tinder’s revenue and paying subscriber trends could continue to be choppy as the app’s turnaround progresses. They stated that Tinder is making some tradeoffs to boost user outcomes at the expense of revenue, pointing to new features such as facial verification checks. They also noted that Tinder is testing changes to its recommendation engine, potentially emphasizing relevance more than monetization. They added that it remains unclear how long it will take the new features to restart user growth. The analysts also pointed out that innovation at the company is now faster. "We come away cautiously optimistic as we believe the accelerated velocity maximizes the chance of success," they said.
• October 3, 2025: Goldman Sachs analyst Alexandra Steiger said industry data shows Hinge continue to outperform other dating apps in user growth, though U.S. user trends have decelerated throughout the quarter. He also pointed out that Tinder has begun seeing improvement in international user trends.