BofA reinstated coverage of Bumble with a Neutral rating and $17 price target. While BofA is positive on the long-term growth potential for the Bumble brand and EBITDA margins, the firm is cautious on near-term trends, and believes a slowdown in user growth is largely priced into shares, the analyst tells investors in a research note.
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 Insiders’ Hot Stocks on TipRanks >>
Read More on BMBL:
- Bumble call volume above normal and directionally bullish
- Bumble price target lowered to $16 from $18 at Piper Sandler
- Bumble price target lowered to $23 from $26 at Goldman Sachs
- Bumble price target lowered to $28 from $35 at TD Cowen
- Brinker upgraded, Berkshire Hathaway downgraded: Wall Street’s top analyst calls