Bumble (NASDAQ:BMBL) Price Target Lowered to $7.00 at Piper Sandler

Bumble (NASDAQ:BMBL) had its price objective trimmed by Piper Sandler from $8.00 to $7.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on BMBL. Morgan Stanley increased their price target 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. Susquehanna increased their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Stifel Nicolaus reduced their price target on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday. The Goldman Sachs Group upped their price objective on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup reduced their target price on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.18.

Bumble Stock 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. The firm has a market cap of $610.14 million, a price-to-earnings ratio of -1.15 and a beta of 1.70. The firm’s fifty day moving average price is $7.98 and its 200 day moving average price is $7.43. Bumble has a 1-year low of $4.80 and a 1-year high of $13.56.

Institutional Trading of Bumble

Several large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Bumble by 26.2% during 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 purchasing an additional 48,207 shares during the last quarter. Wexford Capital LP purchased a new position in Bumble during the fourth quarter worth $98,000. Two Sigma Investments LP acquired a new position in shares of Bumble in the fourth quarter worth $476,000. RPD Fund Management LLC purchased a new stake in shares of Bumble in the fourth quarter valued at $30,940,000. Finally, ProShare Advisors LLC boosted its stake in shares of Bumble by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,057 shares of the company’s stock valued at $220,000 after acquiring an additional 8,902 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.