Bumble (NASDAQ:BMBL) Stock Rating Lowered by Wolfe Research

Bumble (NASDAQ:BMBL) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Friday,Briefing.com Automated Import reports.

Several other equities analysts have also recently issued reports on the stock. Citigroup boosted their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. KeyCorp lowered shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Susquehanna raised their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.38.

Bumble Stock Performance

Shares of BMBL stock opened at $7.97 on Friday. 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 stock has a fifty day moving average of $8.07 and a 200 day moving average of $7.83. The firm has a market capitalization of $862.21 million, a price-to-earnings ratio of -1.63 and a beta of 1.71. Bumble has a 52 week low of $4.80 and a 52 week high of $15.05.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in Bumble during the 2nd quarter worth approximately $82,000. Headlands Technologies LLC bought a new position in Bumble in the 2nd quarter worth $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bumble in the 2nd quarter worth $111,000. SG Americas Securities LLC bought a new position in shares of Bumble in the third quarter worth about $71,000. Finally, Capital Management Associates Inc bought a new stake in Bumble during the 3rd quarter valued at approximately $74,000. 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.