Bumble price target lowered to $23 from $27 at RBC Capital

RBC Capital analyst Brad Erickson lowered the firm’s price target on Bumble (BMBL) to $23 from $27 but keeps an Outperform rating on the shares. The company’s Q2 results were “mixed” while the management noted some likely intensifying advertising market competition, with Match (MTCH) getting more aggressive on both Hinge and Tinder, the analyst tells investors in a research note. The firm adds however that Bumble’s stable growth and margin expansion remains underappreciated at these level.