Bumble price target lowered to $20 from $24 at Jefferies

Jefferies lowered the firm’s price target on Bumble (BMBL) to $20 from $24 and keeps a Hold rating on the shares ahead of the company’s Q1 report, stating that the focus will be on Bumble App payers. The firm, which says investors are looking for accelerating revenue growth and Bumble App payers in Q2, believes the company’s ability to maintain FY23 guidance for revenue, payers, and EBITDA margin is "key for the stock." In dating, the firm continues to favor Match Group (MTCH) over Bumble as it argues that Match "is more attractively valued and has more drivers for stock upside."