Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

KeyBanc downgrades dating app Bumble to “Sector Weight”

admin by admin
September 27, 2024
in Stock
0
KeyBanc downgrades dating app Bumble to “Sector Weight”
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

Investing.com — Bumble Inc (NASDAQ:BMBL) shares dropped in premarket US trading on Friday after analysts at KeyBanc downgraded their rating to “Sector Weight” from “Overweight.”

The stock previously slumped sharply in August after Bumble cut its annual revenue forecast, exacerbating concerns about the group’s future growth.

Investors flagged particular worries around the company’s refreshed application and the launch of new features like “Opening Moves,” which allows women to establish an opening question that all possible matches can answer.

Bumble, which operates its namesake app, said it now expects to post full-year revenue growth of between 1% to 2%, down from previous expectations of 8% to 11%.

Third-quarter sales, meanwhile, are seen at between $269 million to $275 million, well below analysts’ estimates of $296.1 million, Reuters reported, citing LSEG data. Second-quarter revenue also missed Wall Street projections.

Chief executive Lidiane Jones told analysts in a post-earnings call that although the app changes may turn away some users in the near term, the company believes the shifts will “ultimately result in a more authentic and better experience” over time.

Bumble also flagged that it will slow some monetization efforts, including a push to expand its Premium+ offering in the second half of this year.

In a note to clients, the KeyBanc analysts said the app relaunch, and the “Opening Moves” feature in particular, “undermine” Bumble’s core differentiating factor from its peers.

“This disrupts Bumble’s distinguishing feature of having women make the first move after a match. We believe this has made Bumble more competitive with other brands,” the analysts wrote.

They added Bumble is “fixing itself” at a time when rival Match.com’s brands “are in recovery.”

However, they noted that these headwinds to user engagement could be more in the near term than deeper “structural” issues.

“If the issues with engagement prove to be more transitory and users warm to the changes, we believe this could drive upside,” the analysts said.

(Reuters contributed reporting.)

This post appeared first on investing.com

Previous Post

Strike looms at US East Coast, Gulf of Mexico ports

Next Post

France’s inflation rate dips to 1.5% in September amid decline in energy prices

admin

admin

Next Post
France’s inflation rate dips to 1.5% in September amid decline in energy prices

France’s inflation rate dips to 1.5% in September amid decline in energy prices

Trending News

What’s happening in Las Vegas shows Fed’s ‘soft landing’ is a good bet

What’s happening in Las Vegas shows Fed’s ‘soft landing’ is a good bet

September 16, 2024
Eric Trump says current financial system is ‘broken’: is that a positive for Bitcoin Pepe?

Eric Trump says current financial system is ‘broken’: is that a positive for Bitcoin Pepe?

May 7, 2025
Gemini crypto exchange planning to go public following Circle’s IPO success

Gemini crypto exchange planning to go public following Circle’s IPO success

June 7, 2025
Subscribe to Insightful Word


    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025
    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    August 7, 2025
    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    August 7, 2025

    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025

    Latest News

    • Dow futures soar 250 points today: 5 things to know before Wall Street opens
    • Affirm stock price is rising: is it a buy before earnings?
    • Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.