Bumble Stock Is Sliding Today: Here's Why

Bumble Inc BMBL shares are trading lower Thursday after the company reported mixed financial results and issued guidance below analyst estimates.

Bumble said second-quarter revenue increased 18% year-over-year to $220.45 million, which beat the estimate of $219.44 million, according to Benzinga Pro. The online dating company reported a quarterly net loss of 3 cents per share, which missed the estimate for a loss of 1 cent per share.

Bumble app revenue grew 33.2% year-over-year to $169.6 million. Total paying users increased to 3 million, up from 2.9 million year-over-year. Total average revenue per paying user increased to $23.65, up from $20.88 in the prior year's quarter.

Bumble expects third-quarter revenue to be between $236 million and $240 million versus the estimate of $244.93 million. The company expects full-year revenue to be between $920 million and $930 million versus the estimate of $934.07 million.

Analyst Assessment:

• Piper Sandler analyst Matt Farrell maintained Bumble with a Neutral and raised the price target from $21 to $30.
• RBC Capital analyst Brad Erickson maintained Bumble with an Outperform and raised the price target from $30 to $33.
• Susquehanna analyst Shyam Patil maintained Bumble with a Positive and raised the price target from $24 to $36.

See Also: Benzinga Before The Bell: iPhone 14 Might Be Costlier, Coinbase Face Another SEC Probe, Binance Sees Crypto User Growth And Other Top Financial Stories Thursday, August 11

BMBL Price Action: Bumble has a 52-week high of $39.33 and a 52-week low of $15.41.

The stock was down 6.38% at $32.30 at time of publication.

Photo: amrothman from Pixabay.