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This is the top reason to be bullish on Match, according to trader

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Why this investing pro is 'swiping left' on Match Group's stock

Beauty is in the eye of the beholder.

That seems to be the case for Match Group with traders split on whether the stock is the right match for them.

Boris Schlossberg,  managing director of FX strategy at BK Asset Management, was into Match this Valentine's Day.

"I've never swiped left or right in my life," Schlossberg said Friday on CNBC's "Trading Nation," "but I am a bull on Match because a long on Match is really a long on Tinder, and Tinder is the de facto standard in online dating."

Tinder generates 47% of Match's total revenue. Match's dating product portfolio also includes PlentyOfFish and OkCupid.

Match Group has climbed more than 3% over the past week, including a nearly 1% increase on Tuesday, after a rough month for the name. Shares are down nearly 15% in the past month. But, Schlossberg said you need to look broadly at what the company can do to recognize its full potential.

"If you take the premise that online dating is really the future of human dating, that it [has] this transformative social impact not just in the advanced industrialized countries, but perhaps globally and internationally in emerging markets, there's tremendous growth for this stock," Schlossberg said.

Match has 50% revenue exposure in the U.S., but its overseas presence delivers the most growth. In Germany, revenue is growing 12% year over year, the U.K. has 7% sales growth and the Netherlands is up 13%. Emerging markets currently make up just 3% of revenue.

He goes on to say Match continues to grow its daily active users and has $600 million of free cash flow.

"It presents a very strong long-term secular trend. I don't see anybody else coming into this space that could compete with them at this point. They have a great platform and they're really dominating the space."

However, not everyone is getting sweet on this stock.

"We're swiping left on [Match]," Craig Johnson, chief market technician at Piper Sandler, said in the same segment. "We're retesting the uptrend support line that's been intact since 2017, but also you're starting to break below your 200-day moving average on the charts, and if you also step back and look, you're starting to make a bit of a double top in here. If this stock really starts to break below that uptrend support line, your next support comes in at $67."

Match closed Friday at $76.50. It would need to fall 12% to reach $67. It last traded at that level in December.

Match is a subsidiary of IAC Interactive. Its parent company plans to fully separate from it by the end of the second quarter.

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