Bumble (NASDAQ:BMBL) Price Target Lowered to $6.00 at Susquehanna

Bumble (NASDAQ:BMBL) had its price target cut by research analysts at Susquehanna from $8.00 to $6.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 8.79% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Citigroup dropped their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada lowered their price target on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Evercore ISI lowered their price target on Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday. Finally, Piper Sandler lowered their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.05.

Bumble Stock Down 2.4 %

Shares of BMBL stock traded down $0.14 during mid-day trading on Thursday, reaching $5.52. 3,947,711 shares of the company’s stock traded hands, compared to its average volume of 2,835,363. Bumble has a 12 month low of $4.80 and a 12 month high of $13.36. The company has a market cap of $596.61 million, a P/E ratio of -1.12 and a beta of 1.70. 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 company’s 50-day moving average price is $7.98 and its 200-day moving average price is $7.43.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $1,887,000 after purchasing an additional 48,207 shares during the last quarter. Wexford Capital LP bought a new position in shares of Bumble during the 4th quarter valued at approximately $98,000. Two Sigma Investments LP bought a new position in shares of Bumble during the 4th quarter valued at approximately $476,000. RPD Fund Management LLC bought a new position in shares of Bumble during the 4th quarter valued at approximately $30,940,000. Finally, ProShare Advisors LLC grew its stake in shares of Bumble by 49.0% during the 4th 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 period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.