Bumble Shares Tumble By 45% In 2024: CFO Exit, Competition And Slowing Industry Growth Prompt Analyst To Downgrade The Stock

Quick Summary:

Shares of Bumble Inc.(NASDAQ:BMBL) fell over 2% on Thursday and slipped further during pre-market trading on Friday as Wolfe Research analyst Shweta Khajuria downgraded the stock to “peer perform” from “outperform.”

What Happened: Wolfe Research cited several risk factors for the downgrade, as reported by MarketInsider.

Khajuria, the managing director of global internet at Wolfe expects the company to provide conservative guidance for 2025 and views Bumble more as a trading vehicle than a long-term investment in the near to medium term.

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Article Details

Author / Journalist: Rishabh Mishra

Category: Technology

Markets: United States

Topics: Wolfe Research Markets Dating Apps Shweta Khajuria Analyst Color Neil Shah BMBL News Benzinga Equities Tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-03 @ 13:00:53 (5 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 350 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 24851027

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