OTLY - Bumble now below IPO price looks for catalysts with tough comps ahead

It's been just over three months since Bumble (BMBL) wrapped up its first trading day with a 64% pop from its initial public offering price - but the stock has spent the past week back under that $43 IPO pricing after its first-quarter earnings brought an outlook that analysts saw as conservative ... maybe too conservative, though that's relative in a tech market of sky-high expectations. Sentiment on the Street has been strong, with Wall Street analysts staying Bullish even as some trimmed back price targets after earnings. (Seeking Alpha authors are more Neutral on the name.) But after what seemed to gathering momentum for IPOs, a number of 2021's hottest debuts including Coupang, Honest Co. and Loan Depot have begun hanging out below their initial prices. (Oatly (OTLY), which priced at $17 last night, has yet to begin trading today, though opening indications are for $22.) Jefferies' Brent Thill acknowledged

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Bumble, now below IPO price, looks for catalysts with tough comps ahead