Love at Second Sight: Bumble Stock Is Buzzing Again
Sometimes making a coupling work is all about second chances, and apparently Wall Street is ready to give Bumble (NASDAQ: BMBL) another shot. J.P. Morgan analyst Cory Carpenter upgraded shares of the world's second largest player in online dating apps on Tuesday, boosting his rating from neutral to overweight. His $55 price target translated into 65% in upside from Monday's close.
Carpenter isn't the lone suitor here. This is the third week in a row that Bumble stock has been upgraded by a Wall Street pro. Bumble initially took off after going public at $43 earlier this year, but it's been a broken initial public offering (IPO) for the past four weeks. It has shed more than half of its peak value, but it's hard to keep a fast-growing disruptor that also happens to be a clear reopening play down for long.
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Source Fool.com
