TD Cowen analyst John Blackledge lowered the firm’s price target on Bumble to $28 from $35 and keeps an Outperform rating on the shares. The firm expects solid 3Q results driven by continued strong Bumble App growth. They lowered their 2024 and long-term Bumble App estimates to reflect slightly lower paying users and lower ARPPU as paying user mix skews to faster growing but lower ARPPU International markets.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BMBL: