Bumble Inc. BMBL shares are experiencing a notable uptick Tuesday after Wolfe Research initiated coverage with an Outperform rating and a price target of $14, representing a potential upside of 49.1%.
What To Know: Analyst Shweta Khajuria cited Bumble's strong brand, unique woman-first product experience and positive free cash flow as key reasons for the optimistic outlook.
Bumble, which operates the popular dating apps Bumble and Badoo, is expected to benefit from international expansion, new product features and increased market share from competitors like Tinder. The company's innovative approach, including the Bumble For Friends (BFF) and business segments, is seen as a significant growth driver.
However, potential risks include competitive pressures, changing preferences among Gen Z and the ongoing influence of Blackstone's ownership.
BMBL Price Action: Bumble shares were up by 6.43% at $9.93 according to Benzinga Pro.
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