KeyBanc analyst Justin Patterson downgraded Bumble to Sector Weight from Overweight without a price target. The shares are up 12% since the day after Q2 earnings while app data points to continued weakness in top of funnel trends, the analyst tells investors in a research note. The firm believes the app refresh “undermines Bumble’s core differentiator” and says solving these issues creates risk to 2025 financials. As such, KeyBanc sees the stock’s risk/reward as balanced.
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