Bumble price target raised to $7 from $5 at RBC Capital

RBC Capital raised the firm’s price target on Bumble (BMBL) to $7 from $5 and keeps an Outperform rating on the shares. The company pre-announced Q2 with slight revenue upside and a 30% reduction-in-force, though with cost savings are expected to be largely re-invested, the analyst tells investors in a research note. Most positively is that if the revenue upside can be viewed as any type of stabilization in the Bumble brand and progress on new products, some further multiple expansion could ensue, RBC added.