It's time for investors give shares of Bumble a little more love, according to KeyBanc Capital Markets.
Analyst Justin Patterson upgraded shares of the mobile dating company to overweight from a sector weight rating, citing increasing conviction in Bumble's ability to capitalize on online dating trends.
As demand for online dating holds up, Patterson expects the company to benefit from further expansion in international markets, moderating foreign exchange headwinds and growth within its compliments offering.
"We believe Bumble is benefiting from a secular trend toward online dating globally, and a search for more meaningful relationships," Patterson said.
"By focusing deeply on product, brand, and trust and safety, we believe Bumble has created a business that can garner a meaningful user base across geographies."