Bumble price target lowered to $14 from $15 at Jefferies

Jefferies lowered the firm’s price target on Bumble to $14 from $15 and keeps a Hold rating on the shares as the firm views Q3 results as “mostly negative for the stock.” The analyst was “admittedly surprised” to see Bumble give FY24 revenue guidance – which was well below the Street’s 18% forecast – given that incoming CEO Lidiane Jones won’t start until January, the analyst tells investors. The firm thinks shares will likely remain range-bound until there is more clarity on the new CEO’s roadmap.