Match Group Inc (MTCH  ) faces high expectations for its first investor meeting on Wednesday as Wall Street awaits its turnaround plan to check subscriber loss at Tinder.

Match has been attempting a turnaround since 2023, including a marketing campaign, updating the Tinder app interface, and expanding safety features. However, the initiatives failed to move the needle for the company, Bloomberg reports.

In November, Match's dismal outlook after some new features could not deliver results added to the company's woes.

JPMorgan analyst Cory Carpenter and Evercore ISI's Robert Coolbrith told Bloomberg they expect a credible strategy to stabilize Tinder's trends.

Previously, Starboard Value had proposed a sale lest it fail to accomplish a turnaround. Frequent management changes since 2016 and a lack of meaningful product innovation at Tinder led to a $41 billion loss in Match's capitalization since its 2021 peak. Three activists, including Elliott Investment Management LP and Anson Funds Management LP, have taken stakes in the firm since 2023.

Previously, Starboard recommended the firm buy back shares using its free cash flow.

In addition, analysts seek a growth strategy from Hinge.

In September, JPMorgan analysts said they expect online dating trends to recover in the fourth quarter of 2024 and return to high-single-digit (HSD) growth in 2025. They also expected Tinder to step up its game.

However, they also flagged the intense need for innovation.

Also, in September, Keybanc's Justin Patterson downgraded Bumble Inc's (BMBL  ) rating, citing weak app store data indicators. The analyst flagged a potential acquisition by Match.

Price Action: MTCH stock is down 3.4% at $31.92 at last check Wednesday.