On Thursday, Susquehanna maintained a Positive rating on shares of Bumble Inc. (NASDAQ:BMBL), but lowered its price target to $14 from $17. This adjustment follows Bumble's fourth-quarter results and the company's revenue guidance for the fiscal year 2024, which fell short of previous expectations.
The company's fourth-quarter performance was slightly underwhelming, and the revenue outlook for the fiscal year 2024 was notably weaker than the preliminary forecast given last quarter. Bumble is currently navigating obstacles related to its Bumble App, which is expected to impact growth throughout the year.
Despite the anticipated short-term volatility, the company is focusing on strategic initiatives, such as the relaunch of the Bumble App in the second quarter and a significant reduction in its workforce. These efforts are seen as potential drivers for top-line reacceleration and improved long-term profitability.
Bumble, known for its unique position in the online dating market, is believed to have a considerable opportunity for expansion. While the immediate future may present challenges, the company's strategic measures are aimed at paving the way for future growth.
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