Growth stocks got hammered in 2022, but investors want a fresh start in 2023. With certain stocks down more than 75% from their highs, many are searching for diamonds in the rubble.
If you believe in the buy-low, sell-high philosophy, you may want to read ahead. Our recommendation for today was one of the biggest losers in 2022 as the inflation rate skyrocketed against historical norms. According to some pros, this stock is undervalued and poised for resurgence.
Match Group (MTCH)
The pandemic provided a bump in online dating and sent MTCH stock price soaring, reaching its ATH of around $169 in October 2021. Since the share price has lost nearly 75% of its value, the global, fundamental need to meet people isn’t going anywhere. Match benefits from inelastic demand, compared to other consumer discretionary names, which the company intends to continue capturing with its technologies, including Tinder, OkCupid, and Hinge providing a solid and resilient subscription-based business. MTCH has a consensus Buy rating. A $60.23 price target implies a 38% upside.
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