Bumble price target lowered to $13 from $14 at Piper Sandler

Piper Sandler lowered the firm’s price target on Bumble to $13 from $14 and keeps a Neutral rating on the shares. The firm notes Bumble delivered near-term results and updated guidance below expectations once again. Management noted a slower start to the year for the Bumble app, along with execution issues tied to the roll-out of its new premium pricing tier. Overall, Piper prefers to wait until it sees stabilization in trends before getting more constructive.