Jefferies analyst Brent Thill raised his price target on Match Group Inc. shares to $50 from $44 late Tuesday, writing that he believes new investors haven’t missed Match’s rally entirely, despite the stock’s 156% rise over the past 12 months. The S&P 500 is up 15% in that time. Thill wrote that Match Group shares still trade at a discount to shares of other subscription internet names, including Netflix Inc. , Zillow Group and Angi Homeservices Inc. , based on earnings before interest, taxes, depreciation and amortization (Ebitda). “The argument can no longer be made that Match is a cheap asset, but we still believe that upside remains,” Thill wrote. He added that the company’s Tinder platform continues to perform well in App Store rankings and he thinks that a new paid Tinder feature due out later this year is potentially “a catalyst that can move the stock.”
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News