Bumble price target lowered to $20 from $30 at BTIG

BTIG analyst Jake Fuller lowered the firm’s price target on Bumble to $20 from $30 and keeps a Buy rating on the shares. The analyst cites the company’s Q3 revenue miss and reduction in Q4 outlook to reflect FX headwinds and disruption in the Middle East. BTIG adds that while FX and Middle East disruption are plausible explanations for the step-down in the guide, it won’t do much to shake category malaise.