Why Bumble's Stock Is Trading Higher Today?

July 9, 2021 10:53 AM | 1 min read | Make a Comment

RBC Capital analyst Brad Erickson has initiated coverage on Bumble Inc BMBL with an Outperform rating and $65 price target.
The price target signifies a 29.3% upside at current levels.
Bumble distinguished itself as quality over quantity play in online dating.
Erickson saw an expanding total addressable market. Additionally, Bumble's female-first approach offered differentiated monetization and profitability tailwinds.
Bumble's pricing power signified longer-term margin upside, Erickson's research note stated.
Price action: BMBL shares traded higher by 3.64% at $52.12 in the market session on the last check Friday.