I=8
Bumble shares down 3.3% pre-market on Goldman Sachs downgrade due to limited visibility on turnaround and declining user trends
Buy->Neutral, $8->$7: Goldman Sachs cited limited visibility on Bumble’s turnaround, with meaningful improvement unlikely until mid-2026. They pointed to Bumble’s de-emphasis on marketing, especially in U.S. which has resulted in app downloads declining more than 35% y/y, though U.S. monthly active users (MAUs) are declining at a slower pace.
Alexandra Steiger said industry data shows Hinge continue to outperform other dating apps in user growth, though U.S. user trends have decelerated throughout the quarter.
He also pointed out that Tinder has begun seeing improvement in international user trends, creating a more challenging environment for Bumble.
Bumble shares are down 3.3% while Match Group shares are little changed pre-market.