Wolfe Research initiated coverage of Bumble with an Outperform rating and $14 price target as part of a broader sector note launching coverage of Global Internet names. The company’s new leadership team is taking the right actions on product innovation around refreshing the Bumble app, international expansion, app localization, and Gen-Z friendly features, in efforts to deliver healthy double-digit revenue growth and ongoing share gains, the analyst tells investors in a research note. The stock’s current valuation at 8.4-times expected 2025 EPS is also “attractive”, the firm added.
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