Love is in the air, so It does not matter if you swipe up, down, left, or right, you might just end up with one of these in your portfolio?
EasyResearch looks at 2 dating stocks to get your week going!
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New kid on the stock block, Bumble had its IPO last week Thursday and gained 63.5% by the closing bell which brought the IPO valuation structure back into focus. But nevertheless, this all-woman company is set to change the dating landscape to encourage healthy relationships beyond dating.
Bumble’s focused approached has seen revenue for the first nine months of 2020 at $376 million compared to $362 million over the same period in 2019. Premium subscription purchases drive revenue which has also seen an increase over the last year.
Whitney Wolfe Herd is no novice in the dating app world, she co-founded Match Group’s Tinder and shortly after leaving the company founded Bumble in 2014. Bumble has grown with popularity and as of 2019 it has become the second most popular dating app in the U.S after Tinder.
“By empowering women across all of their relationships, we believe that we have the potential to become a pre-eminent global women’s brand,” - Whitney Wolfe Herd (Founder)
Dating app powerhouse, March Group owns and operates some of the most well-known online dating sites like Tinder, Hinge, OkCupid and Match.com. The company has undoubtedly taken dating to the next level and has been a match made in heaven for investors.
Match Group’s latest acquisition, the Korean mobile app maker Hyperconnect was well received ahead of Bumble’s IPO which has seen Match’s share price at all-time highs. Hyperconnect, a social discovery and video technology company was acquired for $1.7 billion as Match expends on its offering to include for richer and deeper experiences. Hyperconnect is also a profitable business which generated over $ 222 million in revenue over 2020, which was a 50% increase from 2019.
Match Group’s latest acquisition could add on to the bottom line as the latest Q4 earnings results came in-line with expectations but the forward guidance was a bit lite fir the full year.
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At this stage of the race, swiping right might be the best option for cautious INVSTRs but on the flipside, Bumble could be better suited for growth stock INVSTRs buzzing with excitement.
So even if you did not find love this valentine’s day, you might fall head over heels for the stock market this year as there will be multiple suiters to fit and fulfil your portfolio needs.
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Sources –EasyResearch, MarketWatch, CNBC, Bumble Inc, Bumble SEC Form S-1, Match Group Inc, Investor’s Business Daily, SeekingAlpha, Wikipedia.
Take note: stock data was taken on 14/02/2021.
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Barry is a market analyst with GT247, with a wealth of experience in the investment markets. Now in his tenth year in the markets, Barry "The Beef" Dumas brings a combination of technical analysis and fundamental insights to the table.