Bumble price target lowered to $15 from $17 at Raymond James

Raymond James analyst Andrew Marok lowered the firm’s price target on Bumble to $15 from $17 and keeps an Outperform rating on the shares. Bumble’s Q4 results were slightly below expectations, with a more conservative 2024 top line outlook, the analyst tells investors in a research note. The firm sees 2024 as a transition year on the revenue front and believes the refresh is likely to heighten execution risk, though Bumble’s brand equity with dating consumers will likely help ease the process.