These Analysts Revise Their Forecasts On Bumble Following Q1 Results
Portfolio Pulse from Avi Kapoor
Bumble Inc. (NASDAQ:BMBL) reported Q1 earnings surpassing expectations with earnings of 19 cents per share against the estimated 17 cents, and sales of $267.77 million over the forecasted $265.47 million. CEO Lidiane Jones highlighted progress towards growth and innovation in the online dating experience. Despite the positive results, Bumble's Q2 revenue forecast of $269 million to $275 million falls short of the expected $278.63 million, leading to a slight 0.3% drop in shares. Analysts from Evercore ISI Group and Goldman Sachs adjusted their price targets post-earnings, with Evercore raising it to $18 and Goldman Sachs reducing it to $15.
May 09, 2024 | 12:44 pm
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Bumble Inc. exceeded Q1 earnings and sales forecasts but projected Q2 revenues below expectations, affecting its stock price with a minor decline. Analysts adjusted their price targets accordingly.
The positive earnings report typically suggests a potential upward movement in stock price due to better-than-expected financial performance. However, the lower-than-expected revenue forecast for Q2 and the subsequent minor stock price decline indicate mixed investor sentiment. Adjustments in price targets by analysts reflect a recalibration of expectations based on the latest financial results and forecasts, which could influence short-term stock price movements.
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