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Raymond James Downgrades Bumble Inc. (BMBL) to Market Perform

April 3, 2024 4:14 PM
(Updated - April 4, 2024 4:49 AM EDT)

Raymond James analyst Andrew Marok downgraded Bumble Inc. (NASDAQ: BMBL) from Outperform to Market Perform.

The analyst comments "We are downgrading Bumble (BMBL) to Market Perform (from Outperform). In conjunction with our initiations of Match Group and Grindr, and taking a closer look at the online dating market and the issues surrounding it, we are moving to a more neutral stance on Bumble. While we believe that its brand is among the best-positioned in the space in terms of relevance with young people, we do see near-term headwinds stemming from changing user habits, which require significant rethinks among apps built in the Millennial era. We do think the path can be navigated, but the scale of changes required raises near-term execution risk, and as a result we see current estimates as properly calibrated with a balanced risk/reward."

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 $11.14 yesterday.

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