Bumble Inc. (BMBL) PT Raised at RBC Capital Following 'Positive Preannouncement'

RBC Capital analyst Brad Erickson raised the price target on Bumble Inc. (NASDAQ: BMBL) to $7.00 (from $5.00) while maintaining a Outperform rating.

The analyst commented: "Positive preannouncement; BMBL preannounced Q2 with slight revenue upside and a 30% RIF, though with cost savings to be largely re-invested. We raise estimates and our price target moves to $7 based on 5.0x EV/'26E EBITDA. Most positively is that if the revenue upside can be viewed as any type of stabilization in the Bumble brand and progress on new products, some further multiple expansion could ensue. Less positively, questions will linger at management calling this an inflection point for online dating when the strategy here seems largely idiosyncratic and industry headwinds have largely been persisting. We remain Outperform given expectations and valuations have gotten very low - from here, we look for substantive progress with new products to continue to justify the rating."

You May Also Be Interested In

• JD.com, Inc (JD) PT Lowered to $39 at Mizuho
• Mizuho Reiterates Outperform Rating on Applied Materials (AMAT)
• StubHub Holdings (STUB) PT Lowered to $11 at Mizuho