- KeyBanc analyst Justin Patterson initiated coverage of Bumble Inc (NASDAQ:BMBL) with a Sector Weight rating and no price target.
- He believed BMBL could sustain high-teens annual revenue growth over the medium term.
- Near-term, Patterson was cautious that inflation and competition pressure growth and margins, making positive revisions and multiple expansions unlikely.
- Key catalysts included Bumble product and monetization initiatives, Bumble BFF monetization, optionality on iOS store changes, and international growth.
- CEO and Founder Whitney Wolfe founded Bumble on the premise that women were treated unequally in romantic connections.
- Wolfe created Bumble to address these issues where women always make the first move.
- Price Action: BMBL shares traded lower by 0.27% at $25.43 on the last check Monday.
US Stock Futures Edge Higher; All Eyes On Fed Decision
Pre-open movers
U.S. stock futures traded slightly higher in early pre-market trade on Wednesday after recording losses on Tuesday. The Dow Jones closed lower by more than 300 points, while the Nasdaq Composite fell over 100 points in the previous session.
