Bumble Inc. (NASDAQ: BMBL) reported its most recent quarterly results after the markets closed on Wednesday, and this the dating app company also gave a rosy outlook about the reopening trade. Earlier this week analysts finally had a chance to weigh in on the stock after the post-IPO quiet period had ended.
During the fourth quarter, Bumble claimed about 12.7% of the U.S. dating market, with about 5.5 million average monthly users and 2.2 million downloads in the United States alone.
The company went public last month, raising $2.2 billion in its initial public offering, as well as making Whitney Wolfe Herd the youngest female chief executive to bring a company public.
Bumble posted a 31% increase in revenue to $165.6 million from $126.3 million in the same period last year. Analysts had expected $163.3 million in revenue. The Bumble app revenue increased 46.6% to $105.8 million, and Badoo app revenue increased 10.5% to $59.8 million.
Total paying users increased 32.5% year over year to 2.7 million, compared to 2.0 million. Total Average revenue per paying user was $20.02, compared to $19.99 last year.
Looking ahead, Bumble has forecast revenue in the range of $163 million to $165 million and adjusted EBITDA of $41 million to $42 million for the first quarter.
The company went on to say that it expects pent-up demand from people who had been avoiding dating in person due to the COVID-19 pandemic. While dating apps have benefitted from social distancing, people are still eager to get back to “normal” life.
Here’s what a few analysts said about Bumble stock this week:
- JPMorgan: Neutral with a $60 price target
- Jefferies: Buy with an $80 price target
- Cowen: Outperform with a $70 price target
- Raymond James: Market Perform
- Morgan Stanley: Equal Weight with a $56 target
- Citigroup: Buy with a $75 price target
- BMO Capital Markets: Market Perform with a $65 target
- Goldman Sachs: Neutral with a $46 price target
- Stifel: Buy with a $75 price target
Bumble stock traded up about 10% to $69.54 on Thursday and has a post-IPO range of $57.53 to $84.80.
24/7 Wall St.100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
