Stifel Nicolaus Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price cut by Stifel Nicolaus from $7.00 to $6.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts have also recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Citigroup dropped their price target on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research report on Wednesday. Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna upped their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their price target on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Bumble presently has an average rating of “Hold” and an average price target of $8.18.

Bumble Price Performance

NASDAQ BMBL opened at $5.64 on Wednesday. The business’s fifty day moving average is $7.98 and its 200 day moving average is $7.43. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $13.56. 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 company has a market capitalization of $610.14 million, a PE ratio of -1.15 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

A number of institutional investors and hedge funds have recently made changes to their positions in BMBL. SG Americas Securities LLC bought a new position in shares of Bumble in the 3rd quarter valued at about $71,000. Creative Planning raised its position in Bumble by 437.5% during the third quarter. Creative Planning now owns 54,055 shares of the company’s stock valued at $345,000 after purchasing an additional 43,998 shares during the period. Capital Management Associates Inc bought a new stake in shares of Bumble in the 3rd quarter valued at approximately $74,000. Westbourne Investment Advisors Inc. boosted its holdings in shares of Bumble by 17.1% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 410,811 shares of the company’s stock worth $2,621,000 after purchasing an additional 59,970 shares during the period. Finally, QRG Capital Management Inc. bought a new position in shares of Bumble during the 3rd quarter valued at approximately $246,000. 94.85% of the stock is owned by hedge funds and other 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.