Bumble Inc. (BMBL) Performs Well Out of the Gate - JPMorgan

March 11, 2021 7:48 AM EST
Get Alerts BMBL Hot Sheet
Price: $60.29 +0.35%

Rating Summary:
    7 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 22 | New: 25
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JPMorgan analyst Cory Carpenter reiterated a Neutral rating and $60.00 price target on Bumble Inc. (NASDAQ: BMBL) after the company executed well in its first quarter as a public company, with no surprises to previously flashed 4Q numbers & slight upside to the prior 1Q & 2021 estimates.

The analyst stated "We are tweaking up our 2021 Revenue & EBITDA by ~1%. As highlighted in our initiation on 3/8, we are bullish on the secular growth opportunity within online dating and believe BMBL is well positioned for sustained mid-20% growth. But we believe the risk/reward is balanced at current levels, with BMBL trading at a slight premium to MTCH. Our Dec-21 price target remains $60 & is based on 14x 2022E Revenue of $896M, a 2% discount to MTCH".

For an analyst ratings summary and ratings history on Bumble Inc. click here. For more ratings news on Bumble Inc. click here.

Shares of Bumble Inc. closed at $68.60 yesterday.

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