5 Best Young Stocks to Buy Now

4. Bumble Inc. (NASDAQ:BMBL)

Number of Hedge Fund Holders: 23    

Bumble Inc. (NASDAQ:BMBL) provides online dating and social networking platforms in North America, Europe, and internationally. It is one of the top IPO stocks to invest in. On October 10, the firm announced that it would partner with Ted Lasso, a fictional dating app, to bring the experience of its Bantr to the users of Bumble. On October 3, the firm announced that it was testing a speed dating feature in its UK market which allows the users to chat with other members before they have seen their photos.  

On September 14, Stifel analyst Mark Kelley resumed coverage of Bumble Inc. (NASDAQ:BMBL) stock with a Buy rating and a $35 price target, noting the company’s continued growth in North America and faster growth in international markets, particularly in India. 

At the end of the second quarter of 2022, 23 hedge funds in the database of Insider Monkey held stakes worth $156 million in Bumble Inc. (NASDAQ:BMBL), compared to 17 in the previous quarter worth $233.8 million.

In its Q2 2022 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Bumble Inc. (NASDAQ:BMBL) was one of them. Here is what the fund said:

“Online dating company Bumble Inc. (NASDAQ:BMBL) has been successfully executing its core strategic priorities focused on driving scale and engagement, monetization, and profitability. We are excited about the market potential for online dating and believe Bumble can take share and leverage its brand in adjacent categories. This is a category we believe should be resilient no matter what happens with the economy.”