Connect with us

Hi, what are you looking for?


This dating stock has one of the best growth rates in Citi’s internet sphere

A sharp decline in shares of Bumble Inc (NASDAQ: BMBL) over the past six weeks is an opportunity to buy a quality name at a deep discount, says Ygal Arounian – Equity Research Analyst at Citi.

Bumble stock should be worth $24 a share

Arounian assumed coverage of the dating platform this morning with a “buy” rating. His $24 price target suggests a near 25% upside on the price at which Bumble stock closed last night.

In a research note today, the Citi analyst said the Austin-headquartered company had one of the best growth rates in all the internet stocks his firm covers.

Most importantly to us is that the core Bumble app has seen continued share gain within the online dating world, and recent product launches are leading to better conversion of paid users as well.

In its latest reported quarter, Bumble Inc increased its total paying users by a better-than-expected 14.4% to 3.4 million.

Other tailwinds that could boost Bumble stock

Arounian expects the stock to benefit as Bumble continues to expand internationally.

Other reasons cited for the constructive view on the Nasdaq-listed firm include its “women first” narrative and a focus on younger audience. The research note also reads:

We think there are attractive long-term tailwinds to this space [and] Bumble has the right pieces in place to see improvements while it builds on that future.

Arounian expects the company’s revenue to reaccelerate this year and, therefore, is convinced that the Bumble stock does indeed warrant a slight premium versus its industry peer Match Group Inc.

The post This dating stock has one of the best growth rates in Citi’s internet sphere appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.