Evercore ISI lowered the firm’s price target on Bumble (BMBL) to $5 from $7 and keeps an In Line rating on the shares after the company issued what the firm describes as “a Beat and Lower” Q3 report. The firm views marketing pullback and user base clean-up initiatives as significantly reducing near and medium-term revenue visibility, adding that it is concerned that marketing cuts could lead to further near-term engagement losses.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BMBL: