Bumble Inc. (NASDAQ:BMBL – Get Free Report)’s share price was down 5.3% during trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $10.00 to $8.00. The Goldman Sachs Group currently has a buy rating on the stock. Bumble traded as low as $4.74 and last traded at $4.75. Approximately 383,231 shares changed hands during trading, a decline of 87% from the average daily volume of 2,987,601 shares. The stock had previously closed at $5.01.
Other equities research analysts have also issued research reports about the stock. Morgan Stanley dropped their price target on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada lowered 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, February 19th. Wells Fargo & Company reduced their price target on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.25.
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Bumble Stock Performance
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 firm has a market capitalization of $500.82 million, a PE ratio of -0.97 and a beta of 1.77. The firm’s 50-day moving average price is $6.89 and its two-hundred day moving average price is $7.24.
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.
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