Bumble price target raised to $29 from $24 at Raymond James

Raymond James analyst Andrew Marok raised the firm’s price target on Bumble to $29 from $24 and keeps an Outperform rating on the shares. The company’s Q4 results were ahead of expectations driven by broad-based outperformance of Bumble App across markets and customer segments, the analyst tells investors in a research note. While the macro environment continues to affect Badoo, Bumble App demand is largely holding up, the firm says. It still sees an "encouraging trajectory" for Bumble in 2023.