Bumble Inc.’s shares are almost down 38% since February 11 debut while its stock remained flat on Wednesday after reporting Q1 results. According to the Wall Street Journal, Bumble is overvalued and its above-estimate earnings and guidance did little to save the stock.
Bumble operates only two dating apps worldwide, less that competitors such as Match which controls more than 10 brands.
Analysts see competitors, which have also released above estimate earnings and guidance, having a better grip of the market compared to Bumble.
World-wide sessions for competitor Match have grown faster since February and are projected to post more expansion as Bumble remains almost flat.
Although Bumble has promised more offerings, its new features such as Bizz and BFF are yet to be monetized.
Bumble stock is currently declining. BMBL: NASDAQ is down 6.73%
