Bumble Inc. (BMBL) PT Lowered to $13 at Jefferies

Jefferies analyst James Heaney lowered the price target on Bumble Inc. (NASDAQ: BMBL) to $13.00 (from $14.00) while maintaining a Hold rating.

The analyst said: "Though Q4 rev was roughly in line with the Street, the Q1 rev guide was 4% below the street (at the midpoint) and suggests rev growth could slow into the high single digits for the first time in public co history. We were also surprised to see mgmt reduce the FY24 rev guide to 8-11% growth (from "at least high singled digits") as user growth trends in the US have softened. We lower our FY24 rev by 2%, but raise our FY24 EBITDA by 5% to reflect restructuring."

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