Investors who have spurned online-dating stocks like Match and Bumble may give love another chance, explains DoubleLJSquared WSJWhatsNow
Online-dating companies might look like scorned lovers in the stock market these days, but that doesn’t mean they won’t find their happily ever after., Match Group and Bumble reported second-quarter earnings over the past two weeks that topped Wall Street’s expectations. But after significant gains earlier this year for both stocks, even big numbers have done little to keep the fire alive. As of Wednesday’s close, Match’s shares were down 7% this year, including a 12% selloff this month.
Chances are, some of those losses will linger. In part because of Covid-19’s impact, Match’s third-quarter revenue guidance last week came in slightly below analysts’ forecast, excluding, the Korean social-discovery app Match bought this year. Bumble’s guidance looked solid for the third quarter; but the company also said many users of its other app, Badoo, reside in some of the areas hardest hit by the latest Covid-19 wave, which could weigh on its growth until conditions improve.
The good news is that full-year guidance shows both companies expect the period to end on a high note. In that case, investors may get another shot at love—perhaps for an even more reasonable price. Both Match and Bumble now fetch around 11 times forward sales, not cheap but a discount from their respective highs this year..
, makes apples-to-apples comparisons difficult. Match’s new reporting metrics show it has more than five times the number of paying users, or payers, that Bumble does.
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