Bumble price target lowered to $14 from $17 at BofA

BofA lowered the firm’s price target on Bumble to $14 from $17 and keeps a Neutral rating on the shares. The company’s Q4 revenue missed expectations and its Q1 outlook was “weak,” but its FY24 EBITDA is supported by layoffs, says the firm, which is reducing revenue estimates and increasing expected EBITDA margins following the report and layoff announcement.