The Goldman Sachs Group Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price target dropped by research analysts at The Goldman Sachs Group from $10.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 60.80% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Piper Sandler dropped their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Morgan Stanley decreased their price objective on Bumble from $8.00 to $6.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Evercore ISI cut their target price on Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Susquehanna decreased their price target on Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One equities research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.25.

Bumble Price Performance

BMBL traded up $0.16 on Monday, reaching $4.98. The stock had a trading volume of 887,872 shares, compared to its average volume of 2,992,317. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $525.09 million, a price-to-earnings ratio of -1.02 and a beta of 1.77. Bumble has a fifty-two week low of $4.58 and a fifty-two week high of $12.49. The firm has a 50-day moving average of $6.95 and a 200-day moving average of $7.26.

Hedge Funds Weigh In On Bumble

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

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.