Wells Fargo & Company Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price target decreased by Wells Fargo & Company from $8.00 to $7.00 in a research note released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. Susquehanna raised their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Morgan Stanley raised their target price on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Stifel Nicolaus decreased their price target on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday. The Goldman Sachs Group raised their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler decreased their target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Bumble has an average rating of “Hold” and a consensus target price of $8.18.

Bumble Trading Down 30.4 %

Shares of NASDAQ BMBL opened at $5.64 on Wednesday. The business has a 50 day simple moving average of $7.98 and a 200 day simple moving average of $7.43. Bumble has a 52 week low of $4.80 and a 52 week high of $13.56. The stock has a market cap of $610.14 million, a price-to-earnings ratio of -1.15 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMBL. Ameriprise Financial Inc. lifted its stake in shares of 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 buying an additional 1,298,630 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Bumble by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after acquiring an additional 22,136 shares during the period. RPD Fund Management LLC acquired a new stake in shares of Bumble during the 4th quarter worth approximately $30,940,000. Geode Capital Management LLC increased its position in shares of Bumble by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after purchasing an additional 14,889 shares during the period. Finally, Northern Trust Corp raised its stake in shares of 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 in the last quarter. 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.