1. Is the company undervalued?

$MTCH doesn’t appear cheap at surface level, however the company is underearning due to a large non-cash impairment charge. Furthermore $MTCH is incredibly profitable due to their asset light model. Moreover management believes they can grow revenues at mid to high teens in the not so distant future. Throw in the fact that $MTCH is now returning capital back to shareholders, makes this a compelling investment idea.

Link to full write-up here: