Bumble shares are trading lower after the company reported worse-than-expected Q2 revenue results. Also, multiple firms downgraded their respective ratings and price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
Bumble shares are trading lower after the company reported worse-than-expected Q2 revenue results. Additionally, multiple firms downgraded their ratings and price targets on the stock.
August 08, 2024 | 11:20 am
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NEGATIVE IMPACT
Bumble reported Q2 revenue results that fell short of expectations, leading to a decline in share price. Multiple firms have also downgraded their ratings and price targets on the stock.
The combination of worse-than-expected Q2 revenue results and multiple downgrades from analysts is likely to exert significant downward pressure on Bumble's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100