Interesting business hides behind online dating apps.
Do you look for love online? Young people feel more comfortable doing it, and also the “liberal elite” population. 15% of Americans have used a dating website or app, as revealed by the survey Pew Research Centre, up from 1% in 2005.
Match Group (NASDAQ:MTCH) was downgraded by Zachs Investment Research from a “hold” rating to a “sell” in a note issued to investors in mid-May. Zachs did not like the stock performance. Match Group owns Match, OkCupid, Tinder, PlentyOfFish, Meetic, Twoo, OurTime, FriendScout24 and 45 similar brands.
In the other hand, Vetr, another stock analyst/researcher firm, is in love with the brand. They raised shares of Match Group from a “buy” rating to “strong buy”. Probably, they count on that EliteSingles.com members, for example, have university degrees. League, an app, first scan your LinkedIn and Facebook profiles and then list you with the 100,000 people who are waiting to be “match”. Or probably as Luxy works, they only accept people than at least earn $200,000 a year (you should send a bank statement or your last tax return).