|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||72.00 - 76.77|
|52 Week Range||33.30 - 95.32|
|Beta (3Y Monthly)||-0.00|
|PE Ratio (TTM)||45.71|
|Earnings Date||Nov 4, 2019 - Nov 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||88.56|
There is a feeling in financial markets right now that the U.S. and global economic environments are actually improving. Look no further than Citi's Economic Surprise Index, which measures how economic data is coming in relative to expectations. For the first time since early 2019, this index has poked into positive territory.If the U.S. and global economic environments are actually improving, then the long end of the U.S. Treasury yield curve shouldn't be so low. Right now, the long end of the curve is basically screaming "recession." The data disagrees with this assessment. Almost always, the data wins out. Thus, there are murmurs out there that the long end of the yield curve should actually move higher over the next few months.While that is great news for the economy, it's bad news for growth stocks. Low rates inflated growth stocks, because as rates went lower, so did the discount rate for which investors used to discount future profits. Growth stocks get all of their value from future profits. Thus, as the discount rate on those future profits tumbled, the present value of those future profits soared, and so did growth stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe opposite could happen, too. Rates could rise, and if and when they do, growth stocks could drop. * 7 Tech Stocks You Should Avoid Now Of course, this blanket assessment doesn't apply to all growth stocks. For many of them, this unwinding of the growth trade that was inflated by low rates will just be a blip on the radar. Once rates stop moving higher, these stocks will stop moving lower, and they will continue on their secular up-trends.But, for some growth stocks, this unwinding could be more serious. Which growth stocks could get hit hardest in this unwinding period? Let's take a look at five growth stocks to sell as rates creep higher. Growth Stocks to Sell as Rates Move Higher: Chipotle Mexican Grill (CMG)Source: Northfoto / Shutterstock.com YTD Gain: 88%One growth stock which looks like it could get hit particularly hard if/when rates move higher as the U.S. economic outlook improves is Chipotle Mexican Grill (NYSE:CMG).Shares of the fast-casual Mexican eatery are up more than 88% year-to-date, mostly because the company has successfully and impressively executed on its turnaround initiatives, including building-out the digital delivery business, expanding the menu, and re-branding the chain as a "healthy ingredients" restaurant. Comparable sales have turned into sharply positive territory. Margins are have run higher. Profits have soared. So has CMG stock.But part of this rally has unequivocally found support in low rates. How else do you explain a restaurant sock trading at over 45-times forward earnings? The average forward earnings multiple in the restaurant sector is 28, less than half of Chipotle's forward multiple.As such, if/when rates creep higher over the next few months, CMG stock could get hit particularly hard -- not because the fundamentals here aren't good, but because the valuation looks almost entirely dependent on rates remaining low. Workday (WDAY)Source: Sundry Photography / Shutterstock.com YTD Gain: 9%One growth stock which has already been hit hard in the unwinding of the growth trade in anticipation of higher rates is Workday (NASDAQ:WDAY).Workday is a market-leading provider of cloud-hosted enterprise resource planning solutions. The cloud growth narrative has been on fire this year. So has Workday's growth narrative. In 2019, Workday's revenues, profits, and stock have all marched higher. But, as I've pointed out before, WDAY stock has marched into aggressively overvalued territory, and investors are finally starting to notice as the company's numbers have shown signs of weakness.Over the past two months, WDAY stock has shed more than 20%, mostly thanks to slowing growth trends in the company's most recent earnings report. During those two months, the 10-Year Treasury yield actually dropped from over 2% to about 1.6%. Thus, even with the long end of the curve dropping, WDAY stock has still dropped big over the past two months because the growth narrative here is losing momentum. * 10 Battered Tech Stocks to Buy Now If the long end of the yield curve reverses course here and starts to move higher, that will add more pressure to what is an already pressured WDAY stock. That added pressure should result in material weakness in Workday stock for the foreseeable future. Match Group (MTCH)Source: Shutterstock YTD Gain: 80%Another growth stock that seems aggressively overvalued and which could get hit hard in the event that rates do move higher is Match (NASDAQ:MTCH).MTCH stock is up 80% year-to-date -- and up 400% over the past three years -- as the company has emerged as the unchallenged leader in the secular growth online dating space. Specifically, two things have happened here. One, Match has acquired all of its competition (ex: Bumble) and now holds a portfolio of apps which cumulatively dominate the entire online dating landscape. Think Facebook (NASDAQ:FB) of online dating. Two, online dating has turned into a super valuable industry, as consumers have expressed ample willingness to pay up for premium and exclusive online dating services and perks.Consequently, Match's user base, revenues, and profits have all expanded dramatically over the past few years. This big growth has fueled big gains in MTCH stock. But, this is now a stock which trades at 37-times forward earnings, on revenue and profit growth that was under 20% last quarter. That's a really big multiple for not-that-big of growth. Excluding legal fees, Facebook is growing revenues at a faster rate and profits at a comparable rate. And FB stock trades at just 19.5-times forward earnings.From this perspective, it does appear that low rates are inflating the valuation underneath MTCH stock. If/when rates do move higher from today's all time low levels, then MTCH stock could suffer from material multiple compression. Roku (ROKU)Source: Michael Vi / Shutterstock.com YTD Gain: 388%It's tough for me to put streaming device maker Roku (NASDAQ:ROKU) on any "stocks to sell" list. The long-term growth narrative is just so good. But, ROKU stock has come so far, so fast, that I do think this stock could get hit hard if/when rates creep higher.Big picture, ROKU stock is a long-term winner. The company is transforming into the cable box of the streaming TV world, and in so doing, will one day have over 100 million active accounts, from which the company will be able to extract tons of high-margin dollars through TV ad sales and subscription sharing agreements. This company is in the first few innings of a very big long term growth narrative -- and that narrative will ultimately end with ROKU stock being way higher in the long run.In the near-term, ROKU stock is ahead of itself. See the math here. It's tough to justify a price tag above $150 today for this stock, even under aggressive long-term growth assumptions. The only justification for a price tag above $150? Low rates support it. But, if that low rate support disappears, you could see a big sell-off in ROKU stock. * 7 Discount Retail Stocks to Buy for a Recession As such, while I love the growth narrative underlying ROKU stock, I'm also worried that the stock could give back gains in a hurry if/when rates move higher. Starbucks (SBUX)Source: monticello / Shutterstock.com YTD Gain: 41%Joining Chipotle as the only other non-tech growth stock on this list, coffee retail giant Starbucks (NASDAQ:SBUX) seems susceptible to a sizable pullback in the event rates move higher.The logic here is simple. Starbucks is firing on all cylinders today -- positive comps, upward moving margins, double-digit profit growth, etc. That's why SBUX stock has rallied 41% year-to-date to fresh all-time highs.Starbucks is also growing at a slower pace than it has over the past several years. Sure, profits are expected to grow at a 10%-plus pace for the foreseeable future. But since 2014, EPS growth has been largely north of 15%, and often north of 20%.During that 15%-plus profit growth stretch, SBUX stock averaged a 25-times forward earnings multiple. Today, during a slower growth era, SBUX stock is trading at 29-times forward earnings. A bigger multiple for slower growth? That doesn't make sense … unless you consider that today's valuation is inflated by low rates.That's exactly what is happening. SBUX stock is trading at a bigger-than-normal multiple today for slower-than-normal growth because low rates support a bigger multiple. That low rate support could disappear over the next few months. If it does, SBUX stock could be due for some serious pain.As of this writing, Luke Lango was long FB. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Recession-Resistant Services Stocks to Buy * 7 Hot Penny Stocks to Consider Now * 7 Tech Stocks You Should Avoid Now The post 5 Growth Stocks to Sell as Rates Move Higher appeared first on InvestorPlace.
U.S. internet stocks have been red-hot once again in 2019, gaining roughly 45% year-to-date.Each month, Nomura Instinet analyst Mark Kelley tracks the latest trends in global internet usage by taking a look at Sensor Tower data for the month. In addition, Kelley looks at recent headlines to get a sense of which internet stocks are winning over users. Investors who get ahead of the curve by examining internet usage data can potentially get valuable insight heading into third-quarter earnings season for stocks. * 10 Recession-Resistant Services Stocks to Buy With that in mind, here's a list of Nomura Instinet's top five internet stocks to buy now and their usage trends from the month of August.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Internet Stocks to Buy Now: Spotify (SPOT)Source: Spotify Spotify (NYSE: SPOT) was once again the most downloaded music streaming app in August. The Spotify app had more than 17.7 million downloads. Downloads were up 18% in August from a year ago -- its lowest growth rate since February.However, Spotify downloads again outpaced its closest global competitors in YouTube Music (12.3 million), JioSaavn Music (5.2 million) and Deezer (3.4 million). Kelley says Spotify's 10% price hike in Norway doesn't seem to have had a major impact on revenue or cancellations, potentially opening up the door for higher prices in other regions.Nomura Instinet has a "buy" rating and $190 price target for SPOT stock. InterActiveCorp (IAC)Source: Rob Thurman Via FlickrInterActiveCorp (NASDAQ:IAC) is an 80% stakeholder in Match Group (NASDAQ:MTCH), the parent company of popular dating sites including Match.com, Tinder, OKCupid and PlentyOfFish.One of the biggest overhangs for IAC stock this year has been the launch of a Facebook (NASDAQ:FB) dating service late last year. Kelley says the latest data suggests Tinder has not been negatively impacted by Facebook's service. He says Facebook is a manageable risk for Match, and online dating is far from a "winner take all" market. Subsidiary Hinge was a major growth source in August, with year-over-year downloads up 56%. * 7 Tech Stocks You Should Avoid Now Nomura Instinet has a "buy" rating and $314 price target for IAC stock. Pinterest (PINS)Source: Nopparat Khokthong / Shutterstock.com Pinterest (NYSE:PINS) had 10.7 million downloads in August, up 18% from a year ago. The social media company also opened a new headquarters in Australia in August and reported a large earnings beat after making improvements to its platform.Kelley is projecting a three-year compound annual revenue growth rate for Pinterest of 42% -- the highest among the 12 internet media stocks under coverage and well above the 25% average growth rate of the group. Unlike some of its unprofitable peers, Kelley is also projecting annual net income growth of 45% as well.Nomura Instinet has a "buy" rating and $39 price target for PINS stock. Facebook (FB)Source: rvlsoft / Shutterstock.com Facebook and its advertising business just keep on trucking through all the political controversy, regulation, boycotts, lawsuits and antitrust probes.FB stock is up another 42.8% in 2019. Facebook's WhatsApp was the most downloaded social media app in August, with more than 57.2 million downloads. Messenger was a close second with 55.3 million downloads followed by the Facebook app with 52.5 million downloads and Instagram with 36.9 million downloads. While download growth on these four platforms slowed from a year ago, a clear sweep of the top four spots and a total of nearly 200 million downloads is extremely impressive.Nomura Instinet has a "buy" rating and $235 price target for FB stock. Alphabet (GOOGL)Source: achinthamb / Shutterstock.com In addition to Facebook and Match, Kelley says Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is the big winner from the August usage data.Behind the four Facebook platforms, YouTube was the most-downloaded social media app in August with more than 23.3 million downloads. Surprisingly, users downloaded Google Search 8.2 million times in August, up 39% from a year ago. Search had previously not gotten more than 5.9 million downloads in any month during the past year. The Google Chrome app also got 6.4 million downloads in August.Nomura Instinet has a "buy" rating and $1,400 price target for GOOGL stock.As of this writing, Wayne Duggan did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Recession-Resistant Services Stocks to Buy * 7 Hot Penny Stocks to Consider Now * 7 Tech Stocks You Should Avoid Now The post Nomura Instinet's Top 5 Internet Stocks to Buy Now appeared first on InvestorPlace.
Lifelike humanoid robot Sophia says humans should be open to dating apps and that she finally solved who should pays on first dates.
Facebook (NASDAQ:FB) hit a home run when the company announced its dating feature in the U.S. markets. Match Group (NASDAQ:MTCH) will no longer enjoy the absence of competition in the online dating market. Facebook has a huge user base and now has the chance to leverage Instagram alongside Facebook and the Facebook Dating app.Facebook will help its billions of users find a match based on common interests in events, groups, and hobbies. It will even integrate Instagram so that users may include such posts on their Facebook dating profile. The "Secret Crush" lists allow users to add both their Instagram followers and their friends. By the end of the year, users may add Instagram Stories. Dating Faces Safety ConcernsAfter the data leak, users might express skepticism over Facebook Dating safety. But users must opt in to this new feature. The Dating profile is also separate from a user's main profile. The fundamental difference between Facebook and this Dating feature is that users may choose to get matches with friends, friends of friends, and people not in the friend circle.InvestorPlace - Stock Market News, Stock Advice & Trading TipsInvestors recognized the threat Facebook has on the online dating market. Last week, Match stock fell ~5% to $81.47. The chart watchers saw a "double top" at around $90 on the charts. Government Scrutiny IntensifiesOn Sept. 6, New York State Attorney General Letitia James said she would lead an investigation against Facebook for antitrust issues. "Even the largest social media platform in the world must follow the law and respect consumers," she said. "I am proud to be leading a bipartisan coalition of attorneys general in investigating whether Facebook has stifled competition and put users at risk." * 7 Deeply Discounted Energy Stocks to Buy The bad news for investors is that Facebook may have to settle without admitting guilt. The government gets paid but the end-users ultimately pay for the damages.Recall that on July 24 Facebook agreed to a settlement with the Federal Trade Commission. It will pay a record $5 billion fine over its privacy policies. This amount represents 9% of its 2018 revenue. Still, the company generated revenue of $16.9 billion in the second quarter alone. Much of its revenue is from advertising. So long as add spend from U.S. and Canada grows, Facebook can afford to settle with the government. EU Investigates FacebookMeanwhile, EU antitrust regulators are scrutinizing Facebook's planned Libra currency launch. The EU is worried that the cryptocurrency may shut out rivals and restrict competition through the use of information and consumer data. Sadly, Facebook did not even launch the currency, so the investigation may prove premature. Besides, there are many other well-established payment systems. Visa (NYSE:V), MasterCard (NYSE:MA), and PayPal (NASDAQ:PYPL) all offer some form of electronic payment options.The EU's pre-emptive strike against Facebook is unwise. It may deter the social networking giant from entering the market. This would pave the way for a China-based firm to come in instead. Conversely, the U.S. banks and credit card companies may get a head start if the EU delays' Facebook's entry in the cryptocurrency market. * 7 Stocks to Buy In a Flat Market Valuation Here and NowInvestors who forecast a ~20% CAGR in a 5-year DCF growth exit model will arrive at a fair value of $196-$273 for Facebook stock. At a 9.5% discount rate, the implied fair value is $228. Its intrinsic value based on future cash flow is even more bullish. Per Simplywall.St, FB stock is more than 20% discounted from its future cash flow and has plenty of upside for shareholders ahead.On Wall Street, Facebook stock has a $234 target average among 36 analysts tracked by TipRanks.Facebook continues to attract healthy advertising spending. It faces no immediate competition from other social networking sites, either. Investors will do well holding or accumulating FB stock at current levels.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 3 Artificial Intelligence Stocks to Buy * 7 Industrial Stocks to Buy for a Strong U.S. Economy * 3 Beaten-Down Bank Stocks to Buy and Hold for the Long Term The post Facebook Dating Yet Another Positive Catalyst for FB Stock appeared first on InvestorPlace.
Huya stock is among the stocks to watch, along with fellow leaders Twitter, Match, Yandex and Momo. The live streaming esports player is nearing a buy point.
DALLAS , Sept. 9, 2019 /PRNewswire/ -- Match Group (NASDAQ: MTCH) will attend the Deutsche Bank 2019 Technology Conference in Las Vegas at the Encore at Wynn on Tuesday, September 10 , 2019. Gary Swidler ...
If you are looking for fresh investing inspiration, look no further. The following three stocks are displaying very strong momentum right now. Year-to-date the returns of these stocks easily surpass the S&P 500’s 19% gain. And what’s more the Street is confident that this momentum is sustainable. That’s reflected in the ‘buy’ consensus for each stock. Here we use TipRanks to find out why best-performing analysts believe these stocks are poised for continued outperformance: Lululemon Athletica inc. (LULU)Vancouver-based specialty retailer Lululemon is buzzing right now. The company is a key pioneer of the popular athleisure look. With over 400 stores to its name, LULU sells technical, high quality, and premium-priced athletic apparel- and most crucially, is set for significant expansion.Shares have exploded 67% year-to-date, with a 10% boost in just the last five days. Indeed, the company has just reported first-rate earnings results for the second quarter. LULU’s 2Q EPS of $0.96 sailed past Street estimates for $0.89. This was largely due to: 1) big same-store-sales (SSS) beat (+17% ex-FX vs Street +12%) and; 2) largely ~in-line gross margins. In a report titled “Warrior 2Q: Best-in-Class Momentum + Investing for the Long-Term Continues”, Credit Suisse analyst Michael Binetti ramped up his price target from $198 all the way to $235 (16% upside potential). “We’re significantly impressed that LULU accelerated SSS (1-yr and 2-yr basis) in an increasingly volatile macro in 2Q” the analyst explained. Similarly high praise comes from Bank of America’s Rafe Jadrosich, who has a buy rating and $230 price target on the stock. That’s up from just $200 previously. “We believe LULU is one of the best sq. footage growth stories in retail with a strong brand, innovative product and significant international expansion opportunity. We expect solid same-store sales growth to support continued operating margin expansion” cheers the analyst, calling LULU an ‘outlier’ in the challenging retail environment.Overall the stock has a Moderate Buy analyst consensus, with some analysts citing an ‘elevated’ valuation as keeping them on the sidelines. Docusign Inc (DOCU)As the name suggests, Docusign helps organizations connect and automate including how they prepare, sign, act on, and manage agreements. On September 5, DOCU returned to its usual beat and raise story- reassuring investors that last quarter’s disappointing billings growth was just a blip on the radar. The company posted robust 2Q headline numbers with billings the clear star of the show accelerating 47% year over year supported by a top line that beat the Street by ~7%. For instance, revenue of $235.61 million swept past the $220 million expected by analysts. “Based on the stellar results last night, our increased confidence in the company's ability to execute, and increased estimates we are upgrading DOCU to Outperform from Neutral and raising our price target to $65 from $48” top Wedbush analyst Daniel Ives told investors. His new price target indicates 16% upside potential from current levels.For Ives a main highlight was DOCU's impressive international business. The company reported 47% y/y growth with particular strength in the UK, Canada and Australia as this segment continues to catch up with its North American counterpart. This is very encouraging says Ives, as international is a major key in DOCU's strategy to maintaining its steep growth trajectory.As a result, the analyst concluded: “Our lingering concerns around the company's ability to navigate success and execution issues, especially internationally, is now a worry in the rear view mirror in our opinion.” Indeed, the stock boasts a Strong Buy Street consensus, with 8 out of 9 analysts rating DOCU a ‘buy’ right now. “eSignature is still a largely untapped opportunity and the competition is falling farther and farther behind” enthuses JMP Securities analyst Patrick Walravens. Meanwhile the average price target of $67 indicates 20% upside potential for the coming months. Match Group Inc (MTCH)If you are looking for love, chances are you have checked out one of Match Group’s offerings. The company is the name behind some of the biggest online dating platforms in the business- from Tinder, to OKCupid to Match.com.Shares have rallied an incredible 90% year-to-date, but analysts remain confident further growth lies ahead. Indeed, SunTrust Robinson analyst Youssef Squali has just moved to the bull camp while hitching his price target from $90 to $106. “Positive intra-quarter app traffic and revenue trends for MTCH's myriad of brands across several geographies show sustained positive momentum QTD [quarter to date], causing us to raise our estimates and upgrade the stock to Buy from Hold” explained the analyst. He is confident that, come Q3, Tinder will once again print one of its best quarterly net adds ever, with further headroom to grow. “Non-Tinder subsidiaries seem to have stabilized with legacy brands -- Match and OkCupid, turning the corner given a bigger marketing push, while newer brands namely Hinge, Pairs, and Harmonica are showing early promise” the analyst added. And keep an eye out for short term catalysts including pending divestiture from the mothership IAC (IAC) and a buyback reload.Encouragingly, the Street remains on side despite Facebook’s (FB) recent expansion into the dating arena. The social media giant has just announced that it is planning to introduce its dating product to 20 geographies, including the US. The product is mostly the same as the one launched at the F8 developer conference in 2018 with the rollout of the “secret crush” feature from F8 2019 and a deeper Instagram integration. “More bark than bite so far” wrote Squali on September 5, adding “while it is a major headline risk for Match Group, the worldwide market leader, we do not see it as posing a material financial risk to the company.” He believes that 1) Match's portfolio approach of brands focusing on specific interest groups, 2) under-penetration of the category in most markets served, and 3) current leadership position, should ensure continued healthy growth with relatively limited FB impact.In total, MTCH shows a Moderate Buy consensus, with 6 buy ratings vs 4 hold ratings. The average price target works out at $95 (16% upside potential). Discover the Street’s best-rated stocks with the Top Analysts’ Stocks tool
If you’re looking for love, over 18 and on Facebook, you can now opt in to the new Facebook Dating platform and create a separate Dating profile. Facebook, Inc . (NASDAQ: FB )’s new dating platform will ...
Facebook expanded its online dating service to the U.S. on Thursday, and is now taking on the popular mobile dating app Tinder. Shares of Match, Tinder's parent fell on the Facebook news.
Don't confuse Match with Tinder: Hesam Hosseini in Dallas is recharging the service with new tech and a human touch for building relationships.
Shares of Match Group Inc. reversed course Thursday, swinging to a loss of 6.0% in afternoon trading after being up as much as 4.4% soon after the open, after Facebook Inc. entered the matchmaking fray with the launch of Facebook Dating. Match's stock had gained earlier after SunTrust Robinson Humphrey upgraded it to buy from hold, citing optimism for the continued growth of its Tinder dating app. Although the stock sold off after Facebook became a competitor, Analyst Benjamin Black at Evercore ISI said the launch of Facebook Dating "more than anything else" just validates the total addressable market of the online dating market. "Notably, FB Dating was launched in mid-2018, expanding its presence into 19 countries (before the U.S. launch) with no discernible impact on [Match's] subscriber or revenue growth trajectory, as users demonstrated a preference to separate their social and dating lives," Black wrote in a note to clients. Meanwhile, Match's stock selloff dragged shares of IAC/InterActiveCorp down 4.3%, after they were up as much as 1.7% earlier. IAC is Match's largest shareholder, as IAC is Match's parent company. Last month, IAC said it was reviewing whether to spin off Match.
The company said users will be able to integrate their Instagram accounts with Facebook's dating profile and add Instagram followers to their "Secret Crush" lists. The service would be optional for Facebook and Instagram users, the company said, adding that dating activity of users will not appear on their profile or news feed. The service will be available only to users aged 18 and over, who can decide who gets to see their dating profile, Facebook said.
With continued strength at Tinder and signs of promise at its other dating brands, shares of (MTCH)should keep rising, a bullish analyst wrote Thursday. Match stock (ticker: MTCH), up roughly 100% in 2019, was down 4.5% to $81.79 Thursday morning as the S&P 500rose 1.4% on optimism about the U.S.-China trade relationship. SunTrust Robinson Humphrey analyst Youssef Squali upgraded the shares to Buy from Hold, raising his price target from $90 to a Street-high—by $1, it should be noted—$106.
Facebook Inc is launching its dating services in the United States, the social network said on Thursday, sending its shares up 2%. The company said users will be able to integrate their Instagram accounts with Facebook's dating profile and add Instagram followers to their "Secret Crush" lists. The service would be optional for Facebook and Instagram users, the company said, adding that dating activity of users will not appear on their profile or news feed.
The new platform is already live and a Facebook user can opt into Facebook Dating and create a Dating profile, which is separate from the main profile. Users can browse the Dating platform and find connections based on preferences, interests, and other things a user does on Facebook.
(Bloomberg) -- Facebook Inc.’s new dating feature has led to at least one important match: The marriage of users’ Facebook and Instagram profiles for the first time. The social giant announced Thursday that it is launching its nascent dating service in the U.S.—a feature that’s been tested in 19 other countries since it was unveiled in May 2018.Users can combine elements of their Facebook and Instagram accounts to create a separate dating profile—the most notable way Facebook has ever combined the two entities from a product perspective. Facebook Dating will exist inside Facebook’s main app, but users will be able to pull photos from their Instagram profiles into their dating profile, and by the end of the year be able to publish their Instagram Stories to their dating profile as well.Facebook daters can also use their Instagram followers for a feature called “Secret Crush,” which could match them with another Facebook Dating user from their Instagram network. Users can’t be matched with one of their Facebook friends simply by listing them as a “secret crush”— an effort to avoid embarrassing or awkward connections. They can, however, match with a friend if both people add each other. The secret crush list had been limited to a user’s Facebook friends, but has been expanded to include Instagram contacts as well. While the two services have always shared resources and data behind the scenes, including information gathered for targeted advertising, Facebook and Instagram have historically operated independently. Those lines began to blur in early 2018 as Facebook executives demanded Instagram help spur growth through product changes that would drive more users to Facebook’s core app from Instagram. Facebook pushed Instagram to find more ways to link users back to their Facebook profile, for example, while simultaneously scaling back its effort to increase Instagram usage from within the Facebook app.Instagram co-founders Kevin Systrom and Mike Krieger ultimately left Facebook last year after clashing with Chief Executive Officer Mark Zuckerberg over Instagram’s autonomy. Since then, multiple Instagram teams have been restructured to report to Facebook, employees have been given Facebook email addresses to replace their Instagram ones and Facebook is working behind the scenes to connect the two apps’ messaging services. Despite the changes, Instagram’s product has always felt independent from Facebook’s core app. It’s not uncommon for users to be unaware that Facebook owns and operates Instagram, too. Facebook dating will likely be a small feature within the broader Facebook service, but the symbolism of combining the products on the consumer level is notable, especially given the other changes happening at Facebook behind the scenes. Facebook launched dating in May 2018—shortly after the Cambridge Analytica privacy scandal—with the idea that the social network’s mission to bring people closer together should include romantic relationships. The company declined to say how many people use the feature, but has expanded it to 20 countries, including Brazil, Mexico and Vietnam, in the past 16 months. The service is free.“Right now it’s a really feel-good mission, it’s just connecting people,” said Nathan Sharp, the product executive leading Facebook’s dating efforts. “There are no plans for ads and no plans for subscriptions.”Facebook’s efforts could become significant competition for Match Group Inc., which owns the currently most-popular dating site, Tinder. With its new service, Facebook could leverage its extensive web of connections among people and data on relationships as well as its massive financial resources to compete with rivals.Match shares tumbled as much as 7% Thursday after Facebook’s announcement. They are still up 91% this year. Such gains prompted an ill-timed upgrade from SunTrust Robinson Humphrey, which wrote in a note published earlier in the day that Match was seeing “sustained momentum’’ in the third quarter and that it has “further room to grow.” Facebook shares gained 2%.Sharp says Facebook has put a lot of thought into the dating feature and its privacy implications—an effort Facebook wants to highlight given the company’s repeated privacy missteps. Data from a user’s dating profile, for example, won’t be used for targeted advertising, Sharp said. If you use Facebook dating, your Facebook friends won’t be alerted or matched with you, he added. (Unless you are matched with your “secret crush.”)To contact the author of this story: Kurt Wagner in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Andrew Pollack at email@example.com, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Match Group (MTCH) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Facebook shares are up after the tech giant announced its new dating service, “Facebook Dating.” According to Facebook, the company's goal is to “take the work out of creating a dating profile and give you a more authentic look at who someone is.” Yahoo Finance’s Myles Udland, Jen Rogers and Dan Howley sit down to find out what it'll take to find love.
Facebook is launching its new dating service called “Facebook Dating.” According to Facebook, the service will, “take the work out of creating a dating profile and gives you a more authentic look at who someone is.” Yahoo Finance’s Zack Guzman and Kristin Myers discuss with Payne Capital Management Financial Advisor Courtney Dominguez