BUZZ-Match Group falls, Jefferies downgrades to 'hold' on Tinder challenges

Reuters12-17
BUZZ-Match Group falls, Jefferies downgrades to 'hold' on Tinder challenges

** Shares of Tinder-parent Match Group MTCH.O down 1.8% at $31.78 premarket

** Jefferies downgrades MTCH stock to "hold" from "buy" as brokerage says Tinder continues to see weak monthly active user trends

** New verification requirements potentially adding to challenges against a high bar for H2'25 improvement - brokerage

** "We believe the new ecosystem features should help remove 'bad actors', there could be pushback from current users unwilling to verify, creating further headwinds," says brokerage

** Jefferies says it is seeing a consumer shift away from "swipe" to "prompt" dating

** Investors and consumers alike have been disappointed by a lack of new features in recent years - brokerage

** Dating app Hinge remains the key growth asset - brokerage

** Average rating of 27 brokerages covering the stock is "buy", median PT is $36 - LSEG data

** Up to last close, stock down ~11% this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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