Bumble price target raised to $27 from $23 at RBC Capital

RBC Capital raised the firm’s price target on Bumble to $27 from $23 and keeps an Outperform rating on the shares. The company’s Q4 results topped expectations, and while its Q1 EBITDA guidance cut created some confusion, RBC Capital remains encouraged by Bumble’s execution, confidence around its net new payers, and better evidence of new product initiatives intended to drive monetization, the analyst tells investors in a research note.