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

Bumble (NASDAQ:BMBL) had its target price decreased by Susquehanna from $8.00 to $6.00 in a report released on Thursday morning,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

BMBL has been the topic of a number of other reports. Stifel Nicolaus dropped their price objective on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday. Piper Sandler dropped their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada cut their target price on Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bumble currently has a consensus rating of “Hold” and an average target price of $8.05.

Bumble Price Performance

Shares of BMBL opened at $5.46 on Thursday. The business’s fifty day moving average is $7.92 and its 200 day moving average is $7.42. Bumble has a 12-month low of $4.80 and a 12-month high of $13.36. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $590.12 million, a P/E ratio of -1.12 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

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