Wells Fargo & Company Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price decreased by Wells Fargo & Company from $8.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 13.58% from the company’s previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group upped their price target 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 dropped their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus dropped their target price on shares of Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley increased their target price on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Bumble presently has an average rating of “Hold” and a consensus target price of $8.30.

Bumble Stock Performance

NASDAQ BMBL opened at $8.10 on Wednesday. The company has a 50-day simple moving average of $8.03 and a two-hundred day simple moving average of $7.44. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble has a 12-month low of $4.80 and a 12-month high of $13.56. The firm has a market cap of $876.26 million, a price-to-earnings ratio of -1.66 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in shares of Bumble during the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC increased its stake in shares of Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Bumble by 56.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after purchasing an additional 4,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Bumble during the third quarter valued at approximately $71,000. Finally, Capital Management Associates Inc bought a new position in shares of Bumble during the third quarter valued at approximately $74,000. Institutional investors own 94.85% of the company’s stock.

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.