Bumble price target lowered to $5 from $7 at Wells Fargo

Wells Fargo lowered the firm’s price target on Bumble (BMBL) to $5 from $7 and keeps an Equal Weight rating on the shares. The firm is reducing Bumble payers in Q1 to reflect late quarter weakness and remainder of year for macro and product transition uncertainty. FY25/FY26 revenue and EBITDA estimates also fall, Wells adds, saying it is a difficult public equity story right now with little clarity on future.