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.
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.
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