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Bumble initiated with a Buy at Citi
The Fly

Bumble initiated with a Buy at Citi

Citi analyst Ygal Arounian initiated coverage of Bumble with a Buy rating and $24 price target. Bumble currently has one of the best growth rates within the internet group, with expected modest EBITDA margin expansion as well, the analyst tells investors in a research note. The firm says the core Bumble app has seen continued share gain within the online dating world, and the company’s recent product launches are leading to better conversion of paid users as well. Bumble’s brand message around women first seems to be resonating well with younger audiences, contends Citi.

Published first on TheFly

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