Match Group, Spark Networks and The Meet Group All See Share Price Dips
The three leading publicly traded online dating companies in the West, Match Group, Spark Networks and The Meet Group, have all seen their share prices dip in recent weeks.
Match Group’s valuation reached its highest ever point at $91.77 following positive Q2 financial results, an approximate growth of 160% since the trough it experienced in the wake of the May 2018 Facebook Dating announcement.
While flagship product Tinder continued its consistent growth, surpassing five million premium subscribers, Match Group bosses focused their attention on new geographies.
Pairs Engage will look to make a splash in the Asian matrimony industry, and the acquisition of Egyptian startup Harmonica gives Match Group a route into Muslim majority markets.
The dating stock appears to have settled following the initial rally, however; the price has dropped by 13% since 7th August and now sits $79.53.
Meanwhile, Spark Networks has fallen to its lowest price point since its merger with Affinitas. When the two companies combined in November 2017, shares cost $12.40.
At the time of writing, they are now worth just $7.57, meaning Spark Networks’ market cap is less than $100 million.
The price previously peaked at $16.62 towards the end of March, following the announcement that the firm would be fully acquiring Zoosk. The deal was closed three months later for $225 million.
The Meet Group’s stock fell dramatically at the start of May, when it lost more than 30% of its value across a 10 day span.
Despite a 10% uptick caused by positive Q2 results in July, The Meet Group is yet to recover fully and is now down 42% since 3rd May.
Analysts from Aegis Capital are still maintaining a ‘Buy’ rating on the dating umbrella, citing the decision by insiders to purchase $70,000 worth of stock as proof that the company’s executives have reason to be optimistic.
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