KeyBanc downgrades dating app Bumble to "Sector Weight"

Investing.com09-27

Investing.com -- Bumble Inc (NASDAQ:BMBL) shares dropped in premarket US trading on Friday after analysts at KeyBanc downgraded their rating to "Sector Weight" from "Overweight." The stock previously ...

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The stock previously slumped sharply in August after Bumble cut its annual revenue forecast, exacerbating concerns about the group's future growth.Investors flagged particular worries around the company's refreshed application and the launch of new features like \"Opening Moves,\" which allows women to establish an opening question that all possible matches can answer.Bumble, which operates its namesake app, said it now expects to post full-year revenue growth of between 1% to 2%, down from previous expectations of 8% to 11%.Chief executive Lidiane Jones told analysts in a post-earnings call that although the app changes may turn away some users in the near term, the company believes the shifts will \"ultimately result in a more authentic and better experience\" over time.In a note to clients, the KeyBanc analysts said the ap","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"BMBL":"Bumble Inc."},"translate_title":"KeyBanc将约会应用Bumble评级下调至“行业权重”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BMBL":1},"content_text":"Investing.com -- Bumble Inc (NASDAQ:BMBL) shares dropped in premarket US trading on Friday after analysts at KeyBanc downgraded their rating to \"Sector Weight\" from \"Overweight.\"\nThe stock previously slumped sharply in August after Bumble cut its annual revenue forecast, exacerbating concerns about the group's future growth.\nInvestors flagged particular worries around the company's refreshed application and the launch of new features like \"Opening Moves,\" which allows women to establish an opening question that all possible matches can answer.\nBumble, which operates its namesake app, said it now expects to post full-year revenue growth of between 1% to 2%, down from previous expectations of 8% to 11%.\nThird-quarter sales, meanwhile, are seen at between $269 million to $275 million, well below analysts' estimates of $296.1 million, Reuters reported, citing LSEG data. Second-quarter revenue also missed Wall Street projections.\nChief executive Lidiane Jones told analysts in a post-earnings call that although the app changes may turn away some users in the near term, the company believes the shifts will \"ultimately result in a more authentic and better experience\" over time.\nBumble also flagged that it will slow some monetization efforts, including a push to expand its Premium+ offering in the second half of this year.\nIn a note to clients, the KeyBanc analysts said the app relaunch, and the \"Opening Moves\" feature in particular, \"undermine\" Bumble's core differentiating factor from its peers.\n\"This disrupts Bumble's distinguishing feature of having women make the first move after a match. We believe this has made Bumble more competitive with other brands,\" the analysts wrote.\nThey added Bumble is \"fixing itself\" at a time when rival Match.com's brands \"are in recovery.\"\nHowever, they noted that these headwinds to user engagement could be more in the near term than deeper \"structural\" issues.\n\"If the issues with engagement prove to be more transitory and users warm to the changes, we believe this could drive upside,\" the analysts said.\n(Reuters contributed reporting.)\nRelated Articles\nKeyBanc downgrades dating app Bumble to \"Sector Weight\"\nAI to redefine traffic funnels, conversions for online marketplaces: Raymond James\nExclusive-German finance minister tells Italy of his concerns on UniCredit move, sources say","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2470838340"}