Bumble Inc.

Bumble delivered a mixed set of results for the past quarter surpassing Wall Street expectations on the revenue front but missing out on earinings. The Bumble app continued to grow as the company performed well in traditional as well as international growth markets. In the quarter, it gained a download share in all its major markets. The company’s authentic women-first positioning, as well as its products, continue to resonate in its core markets as well as internationally. Mexico is performing quite well, and the recent launches of the company in Chile and Brazil have established a robust initial market presence for it. Bumble’s recent brand initiatives and localization improvements have been showing rapid user growth. In the quarter, Bumble brought a wide portfolio of discovery-oriented products to the market. To serve the company’s underrepresented communities on Bumble, it has launched enhancements in substantial products for LGBTQIA + people. Also, it started to invest in features that will deliver a noteworthy improved experience for the underrepresented cultural and ethnic backgrounds. We provide the stock of Bumble with a ‘Hold’ rating and a revision in the target price.