- RBC Capital analyst Brad Erickson has initiated coverage on Bumble Inc BMBL with an Outperform rating and $65 price target.
- The price target signifies a 29.3% upside at current levels.
- Bumble distinguished itself as quality over quantity play in online dating.
- Erickson saw an expanding total addressable market. Additionally, Bumble's female-first approach offered differentiated monetization and profitability tailwinds.
- Bumble's pricing power signified longer-term margin upside, Erickson's research note stated.
- Price action: BMBL shares traded higher by 3.64% at $52.12 in the market session on the last check Friday.
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