These 5 Social Media Stocks Are Getting Hammered

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In this article, we will discuss 5 social media stocks getting hammered. To take a look at some more stocks under pressure, go to These 10 Social Media Stocks Are Getting Hammered.

5. Match Group, Inc. (NASDAQ:MTCH)

Number of Hedge Fund Holders: 55

Match Group, Inc. (NASDAQ:MTCH) is a Dallas, Texas-based operator of 45 online dating services across the world. Some of the notable brands in Match Group’s portfolio are, OkCupid, PlentyOfFish, and Tinder.

On July 19, Mario Lu at Barclays lowered the target price for Match Group, Inc. (NASDAQ:MTCH) from $81 to $65 and maintained an Equal Weight rating on the stock. The analyst sees discretionary expenditure by consumers under pressure. The analyst has preferred companies that have already taken a beating in the market and have a significant deleveraging event lined up. Match Group, Inc. (NASDAQ:MTCH) stock has lost more than 45% of its value since the start of 2022. If the deleveraging event works out for Match Group, Inc. (NASDAQ:MTCH), it could make way for multiple upward revisions in earnings estimates and target price. Some experts think that online dating platforms will show more resilience than compared to other segments of the social media sector.

Match Group, Inc. (NASDAQ:MTCH) was discussed in the Q4 2021 investor letter of  Arch Capital. Here’s what the investment management firm said:

“We are long Match Group stock because it is the dominant player in online dating, giving it immense and growing power over the population of single people worldwide. This may seem like a callous way to describe the business, but it is the proper way to look at it from an investment lens.

For those that are unaware, Match Group owns every popular online dating property outside of Bumble, Badoo, and Grindr. Its apps and services include Tinder, Hinge, BLK, Chispa, and many others…

In conjunction with this letter, we have published a report on Match Group. You can find it here:

Of the 912 hedge funds in Insider Monkey’s database, Match Group, Inc. (NASDAQ:MTCH) was held by 55 hedge funds as of Q1 2022.

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