UPDATE: Bumble Inc. (BMBL) Internals Set Up Future Beats, PT Raised to $78 at Stifel

March 11, 2021 5:41 AM EST
Get Alerts BMBL Hot Sheet
Price: $58.35 +1.39%

Rating Summary:
    7 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 12
Trade Now! 
Join SI Premium – FREE
(Updated - March 11, 2021 8:54 AM EST)

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."

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities