Wolfe Research Downgrades Bumble (NASDAQ:BMBL) to Peer Perform

Bumble (NASDAQ:BMBL) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

BMBL has been the topic of a number of other research reports. Piper Sandler restated a “neutral” rating and set a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Citigroup boosted their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Stifel Nicolaus raised their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bumble presently has a consensus rating of “Hold” and an average target price of $8.38.

Bumble Stock Performance

Shares of Bumble stock opened at $8.10 on Friday. The company’s 50 day moving average price is $8.09 and its two-hundred day moving average price is $7.79. The firm has a market capitalization of $876.27 million, a P/E ratio of -1.66 and a beta of 1.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.05.

Institutional Trading of Bumble

Several large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in shares of Bumble during the second quarter worth approximately $82,000. Headlands Technologies LLC acquired a new position in shares of Bumble during the second quarter valued at about $94,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bumble during the second quarter worth about $111,000. SG Americas Securities LLC acquired a new stake in shares of Bumble in the 3rd quarter worth about $71,000. Finally, Capital Management Associates Inc acquired a new position in Bumble during the 3rd quarter valued at about $74,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

About Bumble

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.