02:51 PM EST, 11/05/2025 (MT Newswires) -- Match Group's ( MTCH ) Q3 was a "step forward," while still being a work in progress with Tinder's quarterly revenue, payers, net additions beating Wall Street expectations, while Hinge missing on revenue and payers, among others, RBC said in a Wednesday note.

RBC noted that the company is working on new updates for Tinder which includes a new app design, artificial intelligence-powered feature to improve matching and reduce swipe fatigue. Additionally, Hinge aims to add features like "First Impressions" and a reimagined "Preferences" to enhance user experience and matching, analysts highlighted.

The brokerage lowered its fiscal 2025 and 2026 revenue and adjusted earnings before interest, taxes, depreciation, and amortization estimates on Match Group ( MTCH ) over ongoing concerns about the long-term growth potential of the category, and the extended timeline required for product improvements.

RBC now expects fiscal 2025 and 2026 revenue of $3.48 billion and $3.58 billion compared with its previous estimate of $3.50 billion and $3.59 billion, respectively. Meanwhile, adjusted EBITDA is now expected to be $1.22 billion and $1.30 billion for fiscal 2025 and 2026, respectively, compared with $1.27 billion and $1.34 billion previously.

The firm maintained its outperform rating on the company but lowered its price target to $37 from $39.

Price: 33.24, Change: +1.69, Percent Change: +5.34