Citigroup Lowers Bumble (NASDAQ:BMBL) Price Target to $6.80

Bumble (NASDAQ:BMBL) had its target price trimmed by Citigroup from $8.00 to $6.80 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler restated a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Morgan Stanley increased their price target on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, Susquehanna raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.05.

Bumble Stock Down 4.7 %

Shares of NASDAQ BMBL opened at $5.21 on Wednesday. Bumble has a 12-month low of $4.80 and a 12-month high of $13.36. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm’s 50-day moving average price is $7.86 and its 200-day moving average price is $7.40. The stock has a market capitalization of $564.06 million, a price-to-earnings ratio of -1.07 and a beta of 1.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp purchased a new position in Bumble during the 4th quarter valued at about $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bumble by 26.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company’s stock worth $1,887,000 after buying an additional 48,207 shares during the last quarter. Wexford Capital LP purchased a new position in shares of Bumble in the 4th quarter worth approximately $98,000. Two Sigma Investments LP purchased a new position in shares of Bumble in the 4th quarter worth approximately $476,000. Finally, RPD Fund Management LLC purchased a new position in shares of Bumble in the 4th quarter worth approximately $30,940,000. 94.85% of the stock is currently owned by hedge funds and other 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.