Susquehanna Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price objective lowered by Susquehanna from $8.00 to $6.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s target price would indicate a potential upside of 15.07% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Evercore ISI dropped their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday. Piper Sandler reduced their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley lifted their price target on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada cut their target price on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus decreased their target price on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.05.

Bumble Stock Down 4.7 %

Shares of BMBL opened at $5.21 on Thursday. Bumble has a one year low of $4.80 and a one year high of $13.36. The firm has a 50 day simple moving average of $7.86 and a two-hundred day simple moving average of $7.40. 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 company has a market cap of $564.06 million, a P/E ratio of -1.07 and a beta of 1.70.

Institutional Trading of Bumble

Several institutional investors have recently added to or reduced their stakes in the stock. RPD Fund Management LLC acquired a new position in shares of Bumble in the 4th quarter worth approximately $30,940,000. Ameriprise Financial Inc. raised its stake in Bumble by 25.5% during the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after buying an additional 1,298,630 shares during the last quarter. RBF Capital LLC acquired a new position in Bumble in the fourth quarter valued at $5,157,000. First Trust Advisors LP boosted its position in Bumble by 429.5% during the fourth quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock valued at $6,287,000 after acquiring an additional 626,528 shares during the last quarter. Finally, Barclays PLC grew its holdings in Bumble by 202.9% during the 4th quarter. Barclays PLC now owns 553,186 shares of the company’s stock worth $4,503,000 after acquiring an additional 370,568 shares during the period. 94.85% of the stock is currently owned by institutional investors.

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.