** Shares of Tinder owner Match Group MTCH.O down 7.5% to $33.74 premarket after announcing CEO switch and disappointing forecast
** Co late Tues named Spencer Rascoff as new CEO, succeeding Bernard Kim, at a time it looks to attract more users to its dating app
** Dallas-basd firm, which also operates Hinge, OkCupid and Plenty of Fish, said it sees 2025 rev of $3.38-$3.5 bln compared to LSEG estimate of $3.5 bln
** Its Q1 rev outlook also missed consensus
** Rascoff, co-founder and former CEO of online home-listing firm Zillow Group ZG.O, was appointed to MTCH's board last year after talks with activist investor Elliott Investment Management to improve its performance
** BTIG, which rates MTCH 'neutral', in a note late Tues said visibility on a Tinder turn-around remains "very low", adding that "the question at hand is whether adding Mr. Rascoff can bring a turn-around into better focus"
** Of 26 analysts covering MTCH, recommendation breakdown is 11 "strong buy" or "buy" and 15 "hold"; median PT of $35 down from $45 on Nov 5 - LSEG data
** Through Tues close, shares up 11.5% YTD following ~10% decline in 2024. Stock well off its record-high close of $175.53 set in Oct 2021
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.