original_title] | #bumble | #tinder | #pof

Bumble  (BMBL) – Get Report shares soared, as analysts reacted positively to the dating app’s first quarterly earnings report as a public company.

The Austin company posted a loss for the fourth quarter of 1 cent a share, smaller than the FactSet analyst consensus of a 9-cent loss. Revenue jumped 31% to $165.6 million.

Demand for Bumble services was strong among people trapped at home during the COVID pandemic.

The stock recently traded at $68.10, up 8.3%.

Cowen analyst John Blackledge raised his price target to $74 from $70 and rates the company outperform.

The rating is “based on Bumble’s premium position within the high [average revenue per paying user] segment of freemium online dating, and their opportunity to expand and take share in new markets around the world,” he wrote in a commentary.

The Bumble brand “will be able to gain additional penetration in existing markets, expand geographically, increase monetizable features, and expand paying conversion rates over time.”

Further, “Bumble’s Badoo brand is also well positioned in the complementary emerging middle-class segment and is served well by an existing strong presence globally in many markets,” Blackledge said.

Meanwhile, Jefferies, lifted its price target to $82 from $80 and affirmed its buy rating. The earnings report “reinforced” Jefferies analysts’ bullish take on Bumble, according to Bloomberg.

Morgan Stanley analysts raised their price target to $57 from $56, affirming their equal weight rating. 

They say revenue could climb big time in 2021-2022 if the economy enjoys a “roaring 20s” boom at year-end, Bloomberg reports.

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