BofA analyst Omar Dessouky lowered the firm’s price target on Bumble (BMBL) to $3.30 from $3.50 and keeps an Underperform rating on the shares. While early stabilization is “encouraging,” the firm remains cautious on what is “likely a transition year” and thinks it will take time for Bumble to reverse negative payer trends and return to growth, the analyst tells investors.
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Read More on BMBL:
- Bumble price target lowered to $5 from $5.50 at Wells Fargo
- Bumble price target raised to $4 from $3.50 at Morgan Stanley
- Bumble: Signs of Stabilization but High Execution Risk Keep Rating at Hold
- Bumble price target raised to $3.90 from $3.80 at Citi
- Bumble: Early Signs of Recovery but Execution Risks Keep Rating at Hold