In addition to the established leaders in the social media industry, numerous emerging platforms are piquing the interest of investors. These platforms are either following existing social media trends or pioneering new ones, such as the development of user-friendly communication formats, the surge in short-form videos, and the continuous growth of dating apps, which are anticipated to dominate the social media landscape shortly. There are several noteworthy social media stocks to buy for investors looking to seize the potential growth opportunities offered by these promising social media trends. Match Group (NASDAQ:MTCH), renowned for its popular dating platforms, JOYY (NASDAQ:YY), and Hello Group (NASDAQ:MOMO) are among the companies that present exciting investment prospects in the dynamic social media sector. These stocks have demonstrated their ability to adapt to evolving market dynamics and possess the potential for substantial growth in the ever-changing social media landscape.

Social Media Stocks To Buy: Match Group (MTCH)

Match Group, the company behind popular dating sites like Tinder, OkCupid, and Hinge, has established itself as a leader in the online dating industry. With Tinder being the most downloaded dating app worldwide and platforms like Hinge gaining popularity among younger demographics, Match Group has consistently achieved double-digit revenue growth.

The company’s unique revenue model sets MTCH apart from other social media stocks. Instead of depending on ads, Match Group primarily generates revenue through user subscriptions. This approach has proven successful as the popularity of online dating continues to rise, particularly in emerging economies. As a result, Match Group foresees robust revenue growth in the foreseeable future.

With its successful portfolio of dating platforms, unique business model, and strategic acquisitions, Match Group remains at the forefront of the online dating industry. As society continues to embrace digital connections, Match Group is poised to thrive and cater to the evolving needs of individuals seeking meaningful relationships in the digital age.

JOYY (YY)

JOYY is a social media company offering an engaging and pioneering experience through video and audio-based solutions. Among its array of products, JOYY offers Bigo Live, a live streaming platform designed for showcasing talents; Likee, a short-form video platform; Hago, an interactive social platform centered around casual games; and imo, a chat and instant messaging app enriched with features like video calls and document sharing.

In its recent financial report, JOYY announced remarkable Q4 non-GAAP earnings per diluted share of $0.65, surpassing the already high market expectations by a margin of $0.36. Additionally, the company’s revenue of $604.9 million aligned with the consensus projected by Wall Street analysts.

Still, while maintaining a Buy rating on YY, Benchmark analyst Fawne Jiang revised the firm’s price target for the company’s shares, adapting it from $62 to a more measured $49. Such a strategic move reflects a wise analysis of the market dynamics. A comprehensive examination of Insider Monkey’s fourth-quarter database revealed that an increased number of 20 hedge funds expressed a bullish sentiment towards YY, a notable rise from the previous quarter’s count of 17 funds. Notably, the prominent investment firm Marshall Wace LLP currently holds a substantial position in the company, boasting 1.2 million shares valued at $39.2 million.

YY solidifies its standing as a trailblazer in social media stocks by presenting a compelling amalgamation of cutting-edge platforms and attaining significant financial milestones.

Hello Group (MOMO)

Hello Group, a Chinese company that provides social and entertainment services via mobile devices, stands out as a prominent player. With a keen focus on mobile app management, the company offers an extensive array of captivating features to its ever-growing user base, ensuring an immersive experience.

Hello Group unveiled an extraordinary achievement in its latest financial report, as its Q4 non-GAAP earnings per diluted share amounted to $0.36. This remarkable feat far surpassed the estimates put forth by Wall Street. Additionally, Hello Group reported revenue of $465.8 million, surpassing expectations by a noteworthy margin of $2.53 million. Such a financial performance solidifies MOMO’s position as a dominant force in the social media stocks industry.

In March, the company declared an annual dividend of $0.72 per share, consistent with its previous dividend policies. Shareholders anticipate receiving their dividends on May 22, marking a significant milestone for the company and its investors.

Notably, on February 16, Morgan Stanley downgraded MOMO from an Overweight to an Equal Weight rating. Despite this adjustment, Morgan Stanley displayed measured optimism by increasing its price target from $9 to $12. Hello Group is predicted to immensely benefit from the reopening of mobility and dating apps in China. Furthermore, Morgan Stanley emphasized that for sustained growth beyond the reopening phase, Hello Group needs to achieve product breakthroughs, underscoring the importance of continuous innovation and advancement within the industry.

On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.