Bumble price target lowered to $15 from $16 at UBS

UBS lowered the firm’s price target on Bumble to $15 from $16 and keeps a Neutral rating on the shares. The analyst reduced the firm’s below-consensus fiscal 2024 revenue growth and adjusted EBITDA estimates to reflect the initial outlook for “at least low-teens” revenue growth and 50-100 basis points of margin expansion. The firm says Bumble’s outlook provides limited room for incremental macro pressure. It wants to see more evidence that new pricing tiers at Bumble and the product refresh at Badoo can translate to incremental revenue.