Evercore remains cautious on Match Group shares after CEO meeting

Evercore ISI analyst Robert Coolbrith keeps an In Line rating on Match Group (MTCH) with a $32 price target after meeting with CEO Spencer Rascoff. The CEO expressed optimism in the Tinder turnaround as the company prioritizes focus on monthly active user growth and has budgeted for targeted revenue “givebacks” to drive user engagement, the analyst tells investors in a research note. The firm is “encouraged” by Match addressing its historical over-earning, but remains cautious on the shares pending evidence of a sustained turnaround in Tinder top-of-funnel. Success with non-Tinder college experiments suggests the category can resume its growth trajectory within GenZ, but Tinder brand perception among GenZ “could remain a challenge,” contends Evercore.