BTIG analyst Jake Fuller has maintained their neutral stance on BMBL stock, giving a Hold rating yesterday.
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Jake Fuller has given his Hold rating due to a combination of factors affecting Bumble’s current and future market performance. The company met its fourth-quarter guidance, but this was achieved amid declining year-over-year revenue and a drop in net additions for the Bumble app. The outlook for the first quarter was below market expectations in terms of revenue and EBITDA, and the lack of a full-year guidance has added to the uncertainty.
Furthermore, the broader dating app market is experiencing a slowdown, with Bumble and its peers facing challenges such as foreign exchange headwinds and a lack of user growth. Despite having some strategic initiatives in place, there is skepticism about their effectiveness in reviving user interest. Additionally, Bumble’s recent focus on safety measures may impact its payer count negatively. Overall, while the stock is not considered expensive, Jake Fuller sees limited visibility on Bumble’s path to growth, justifying the Hold rating.
According to TipRanks, Fuller is a 4-star analyst with an average return of 6.4% and a 53.96% success rate. Fuller covers the Consumer Cyclical sector, focusing on stocks such as Expedia, TripAdvisor, and Booking Holdings.
In another report released yesterday, Citi also maintained a Hold rating on the stock with a $6.80 price target.