Bumble (NASDAQ:BMBL) Price Target Cut to $7.00 by Analysts at JPMorgan Chase & Co.

Bumble (NASDAQ:BMBL) had its price objective reduced by JPMorgan Chase & Co. from $8.00 to $7.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently issued reports on BMBL. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Citigroup reduced their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday. Royal Bank of Canada dropped their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus reduced their price objective on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.18.

Bumble Price Performance

NASDAQ BMBL opened at $5.64 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble has a 1-year low of $4.80 and a 1-year high of $13.56. The stock has a market capitalization of $610.14 million, a price-to-earnings ratio of -1.15 and a beta of 1.70. The business’s fifty day moving average price is $7.98 and its 200-day moving average price is $7.43.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in Bumble during the 4th quarter valued at approximately $56,000. Tower Research Capital LLC TRC boosted its position 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 worth $60,000 after acquiring an additional 1,249 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Bumble during the third quarter worth $71,000. Capital Management Associates Inc purchased a new position in Bumble during the third quarter valued at $74,000. Finally, D.A. Davidson & CO. bought a new stake in Bumble in the 3rd quarter valued at $77,000. Institutional investors own 94.85% of the company’s stock.

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.