Bumble (NASDAQ:BMBL) Price Target Cut to $6.00 by Analysts at Stifel Nicolaus

Bumble (NASDAQ:BMBL) had its price objective lowered by Stifel Nicolaus from $7.00 to $6.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group raised their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. 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. Finally, Citigroup lowered their price objective on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.05.

Bumble Stock Performance

NASDAQ BMBL opened at $5.21 on Wednesday. Bumble has a 1 year low of $4.80 and a 1 year high of $13.36. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market capitalization of $564.06 million, a PE ratio of -1.07 and a beta of 1.70. The company’s 50 day simple moving average is $7.86 and its two-hundred day simple moving average is $7.40.

Institutional Trading of Bumble

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Bumble in the third quarter valued at about $71,000. Creative Planning increased its position in shares of Bumble by 437.5% in the third quarter. Creative Planning now owns 54,055 shares of the company’s stock valued at $345,000 after acquiring an additional 43,998 shares during the period. Capital Management Associates Inc purchased a new position in shares of Bumble in the third quarter valued at about $74,000. Westbourne Investment Advisors Inc. increased its position in shares of Bumble by 17.1% in the third quarter. Westbourne Investment Advisors Inc. now owns 410,811 shares of the company’s stock valued at $2,621,000 after acquiring an additional 59,970 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in shares of Bumble in the third quarter valued at about $246,000. 94.85% of the stock is owned by institutional investors.

Bumble Company Profile

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.