Bumble price target lowered to $18 from $19 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on Bumble to $18 from $19 and keeps a Hold rating on the shares as part of a broader research note on Online Dating names. The firm is reducing its sales and earnings estimates for the company as it moderates its ARPPU, or Average Revenue per Paying User, estimate for the Bumble banner starting in the current quarter, the analyst tells investors in a research note, adding that the banner’s “Compliments” product has been slower to monetize than Loop had previously projected.