Bumble price target raised to $18 from $17 at Evercore ISI

Evercore ISI raised the firm’s price target on Bumble to $18 from $17 and keeps an Outperform rating on the shares. The company reported a “modest” beat in Q1 but the Q2 guidance came in modestly softer than expectations on greater currency headwinds, the analyst tells investors in a research note. That said, expectations were quite low heading into the print and and a largely in-line fiscal 2024 guide is sufficient to support the stock at its current multiple, the analyst tells investors in a research note.