Bumble Stumbles On 'Ability To Achieve Wider Industry Growth': Analyst
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 12 2024
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Source: Benzinga
Bumble's Revenue Decline: Bumble Inc. experienced a significant drop in stock price, falling 30% after reporting second-quarter revenue that missed analyst expectations by 1.6%, and a third-quarter forecast that was 8.2% below consensus.
Future Plans and Leadership Changes: Despite the decline, Goldman Sachs maintained a Buy rating on Bumble's stock, while founder Whitney Wolfe Herd hinted at incorporating artificial intelligence into the app to enhance user experience, although details were not available from current leadership.
Analyst Views on WCEO
Wall Street analysts forecast WCEO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WCEO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 34.484
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Current: 34.484
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
