Bumble price target lowered to $7 from $8 at JPMorgan

JPMorgan lowered the firm’s price target on Bumble (BMBL) to $7 from $8 and keeps a Neutral rating on the shares. The company reported Q4 revenue and adjusted EBITDA near the high-end of guidance, but trends remain challenged with revenue down 4% year-over-year and net additions negative for the first time since Q4 of 2020, the analyst tells investors in a research note. The firm says product driven turnarounds take time, with Bumble still focused on improving engagement before shifting focus to conversion and revenue.