UPDATE: Bumble Inc. (BMBL) Internals Set Up Future Beats, PT Raised to $78 at Stifel
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Stifel analyst John Egbert raised the price target on Bumble Inc. (NASDAQ: BMBL) to $78.00 (from $75.00) while maintaining a Buy rating after the company delivered 4Q results that were only slightly above expectations with 1Q / FY:21 guidance ahead of consensus forecasts. However, Bumble's paying user growth continued to accelerate in 4Q, setting the company up well for FY:21 as the world continues to gradually reopen amid improving vaccine distribution.
The analyst stated "Bumble's product development appears to be fueling payer conversion / ARPPU growth, with a second subscription tier potentially providing tailwinds as its global rollout extends to Android devices
during 1H:21. We reiterate our Buy rating on BMBL shares and raise our target price to $78 due to the company's strong recent execution, differentiated product offering / strategy, large and fast-growing global TAM in online dating, and solidly profitable business with a multi-year operating leverage story ahead."
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