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- KeyBanc analyst Justin Patterson initiated coverage of Bumble Inc BMBL with a Sector Weight rating and no price target.
- He believed BMBL could sustain high-teens annual revenue growth over the medium term.
- Near-term, Patterson was cautious that inflation and competition pressure growth and margins, making positive revisions and multiple expansions unlikely.
- Key catalysts included Bumble product and monetization initiatives, Bumble BFF monetization, optionality on iOS store changes, and international growth.
- CEO and Founder Whitney Wolfe founded Bumble on the premise that women were treated unequally in romantic connections.
- Wolfe created Bumble to address these issues where women always make the first move.
- Price Action: BMBL shares traded lower by 0.27% at $25.43 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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