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.Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
