'Magnitude' Of Misexecution At Bumble Comes As 'Surprise': Analysts Slash Forecasts Following Q2 Earnings
Portfolio Pulse from Adam Eckert
Bumble Inc (NASDAQ:BMBL) shares plummeted by 32.01% following mixed Q2 results and a significant downgrade in its 2024 outlook. Analysts from JPMorgan, Piper Sandler, and RBC Capital Markets have downgraded their ratings and slashed price targets, citing a strategic reset and misexecution in user growth and monetization efforts.
August 08, 2024 | 4:08 pm
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Bumble Inc shares fell 32.01% after mixed Q2 results and a significant downgrade in its 2024 outlook. Analysts from JPMorgan, Piper Sandler, and RBC Capital Markets downgraded their ratings and slashed price targets, citing strategic misexecution and a reset in user growth and monetization efforts.
The significant drop in share price is due to mixed Q2 results and a major downgrade in the company's 2024 outlook. Analysts have downgraded their ratings and slashed price targets, indicating a lack of confidence in the company's short-term performance.
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