KeyBanc Sees This Woman-Centric Dating Platform Sustaining Growth

KeyBanc Sees This Woman-Centric Dating Platform Sustaining Growth
  • KeyBanc analyst Justin Patterson initiated coverage of Bumble Inc BMBL with a Sector Weight rating and no price target
  • He believed BMBL could sustain high-teens annual revenue growth over the medium term. 
  • Near-term, Patterson was cautious that inflation and competition pressure growth and margins, making positive revisions and multiple expansions unlikely. 
  • Key catalysts included Bumble product and monetization initiatives, Bumble BFF monetization, optionality on iOS store changes, and international growth. 
  • CEO and Founder Whitney Wolfe founded Bumble on the premise that women were treated unequally in romantic connections. 
  • Wolfe created Bumble to address these issues where women always make the first move. 
  • Price Action: BMBL shares traded lower by 0.27% at $25.43 on the last check Monday.
Posted In: BriefsNewsPrice TargetInitiationAnalyst RatingsTech