** Shares of dating apps operator Bumble BMBL.O plummet ~17.04% to $6.72 premarket

** Bumble forecast its first-quarter revenue below analysts' estimate on Tuesday, signaling that its efforts to boost growth are taking longer than expected to reap results

** Online dating apps have been grappling with declining user engagement and customer spending on their platforms amid a lack of new features and pressures from still-high inflation

** At least seven brokerages cut PT following results, according to data compiled by LSEG

** RBC believes that COVID-19 has had an adverse social effect on some portion of "would-be daters", leading to reduced engagement with dating apps across the industry; cuts PT to $7 from $8

** Bumble's redesign efforts to improve user engagement, quality, and authenticity are facing challenges that will take several quarters to overcome- RBC

** J.P.Morgan does not expect Bumble's Q1 to get a boost from the new product release in mid-March; cuts PT to $7 from $8

** Avg. rating of 21 analysts is "hold"; median PT $8 - LSEG

** BMBL stock fell ~44.8% in 2024

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))