Bumble (NASDAQ:BMBL) Given New $6.80 Price Target at Citigroup

Bumble (NASDAQ:BMBL) had its target price cut by Citigroup from $8.00 to $6.80 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently commented on BMBL. Stifel Nicolaus lifted their target price on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley upped their target price on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Piper Sandler reissued a “neutral” rating and issued a $8.00 price objective (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.18.

Bumble Trading Down 30.4 %

Bumble stock opened at $5.64 on Wednesday. Bumble has a one year low of $4.80 and a one year high of $13.56. The stock has a market cap of $610.14 million, a PE ratio of -1.15 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a 50-day moving average of $7.98 and a two-hundred day moving average of $7.43.

Hedge Funds Weigh In On Bumble

Several large investors have recently made changes to their positions in BMBL. Tower Research Capital LLC TRC grew its position in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after buying an additional 1,249 shares during the period. Franklin Resources Inc. boosted its stake in shares of Bumble by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after acquiring an additional 1,666 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Bumble by 1.4% during the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock worth $1,262,000 after acquiring an additional 2,157 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after acquiring an additional 2,760 shares during the period. Finally, Aigen Investment Management LP increased its stake in shares of Bumble by 14.2% in the 4th quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock valued at $253,000 after purchasing an additional 3,853 shares in 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.