NEW YORK (TheStreet) -- Shares of Match Group (MTCH) - Get Reportare declining 1.79% to $15.40 in afternoon trading even though JPMorgan upgraded the dating site's stock rating to "overweight" from "neutral" this morning.
The firm raised its price target on Match stock to $19 from $15, citing valuation, TheFly reports.
Upsides on the stock are that Tinder business is strong and Match's domestic business has become more stable, JPMorgan noted.
Still, in the company's fiscal 2016 second quarter results posted after Tuesday's market close, Match warned investors of slowing growth, Barron's reports.
Match noted that revenue growth has been slower than the company first predicted, resulting in "revenue below prior expectations for the year."
However, the company reported better-than expected earnings and revenue for the second quarter.
Match posted earnings of 17 cents per share, surpassing analysts expectations of 16 cents per share. Revenue came in at $301 million, above analysts projected $295.01 million.
Operating income increased 82% to $74 million for the quarter.