Wells Fargo analyst Ken Gawrelski initiated coverage of Bumble (BMBL) with an Overweight rating and $19 price target. The analyst, who is “optimistic” on the sustainability of Bumble app growth, notes that the firm’s EBITDA multiple implies a slight premium to peer Match (MTCH) to account for faster growth at Bumble.
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Read More on BMBL:
- Bumble price target raised to $16.50 from $15.50 at BofA
- Bumble to repurchase $100M in shares and units from Blackstone
- Bumble adds ‘Plans’, AI-powered conversation starters to Bumble For Friends
- Online dating picture somewhat improved in October, says Citi
- Bumble sees FY24 revenue growth rate ‘at least in low teen’
