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Amid struggles in a highly saturated market and earnings misses, Bumble Inc. (NASDAQ:BMBL) has seen a steep drop in share price since its 2021 initial public offering. However, an analyst has raised the company’s rating after seeing encouraging signs that surpass Wall Street forecasts.
The Bumble Analyst: Bank of America analyst Curtis Nagle upgraded Bumble from Neutral to Buy and maintained a $14 price target.
The Bumble Takeaways: “We are upgrading Bumble (BMBL) to Buy as we are more confident now that Bumble can meet or exceed Street expectations …
Full story available on Benzinga.com
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