JPMorgan Chase & Co. Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 28.32% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research cut shares of 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 shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. The Goldman Sachs Group increased their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Susquehanna boosted their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bumble has an average rating of “Hold” and an average target price of $8.05.

Bumble Price Performance

Shares of BMBL stock opened at $5.46 on Wednesday. The stock’s fifty day moving average is $7.92 and its 200-day moving average is $7.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. Bumble has a 52 week low of $4.80 and a 52 week high of $13.36. The stock has a market capitalization of $590.12 million, a PE ratio of -1.12 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

Several institutional investors have recently modified their holdings of the stock. RPD Fund Management LLC acquired a new stake in shares of Bumble in the 4th quarter valued at approximately $30,940,000. Ameriprise Financial Inc. increased its stake in Bumble by 25.5% in the fourth 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 in the last quarter. RBF Capital LLC acquired a new stake in Bumble in the fourth quarter worth $5,157,000. First Trust Advisors LP boosted its position in shares of Bumble by 429.5% during the fourth quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock worth $6,287,000 after purchasing an additional 626,528 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Bumble by 202.9% during the fourth quarter. Barclays PLC now owns 553,186 shares of the company’s stock worth $4,503,000 after purchasing an additional 370,568 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.