Bumble (NASDAQ:BMBL) Price Target Cut to $8.00 by Analysts at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) had its target price trimmed by The Goldman Sachs Group from $10.00 to $8.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on BMBL. JPMorgan Chase & Co. dropped their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company dropped their price objective on Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Piper Sandler dropped their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus dropped their price objective on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.25.

Bumble Stock Up 3.9 %

Shares of NASDAQ BMBL opened at $5.01 on Monday. Bumble has a one year low of $4.58 and a one year high of $12.49. 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 business’s fifty day moving average price is $6.89 and its 200-day moving average price is $7.24. The stock has a market capitalization of $528.79 million, a PE ratio of -1.02 and a beta of 1.77.

Hedge Funds Weigh In On Bumble

Several institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in shares of Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after purchasing an additional 1,298,630 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Bumble by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after acquiring an additional 22,136 shares during the last quarter. RPD Fund Management LLC purchased a new position in Bumble in the 4th quarter worth approximately $30,940,000. Geode Capital Management LLC increased its stake in Bumble by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock worth $14,872,000 after purchasing an additional 14,889 shares during the period. Finally, Northern Trust Corp increased its stake in Bumble by 3.5% in the 4th quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after purchasing an additional 32,353 shares during the period. 94.85% of the stock is currently owned by 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.