Bumble (NASDAQ:BMBL) Price Target Lowered to $6.80 at Citigroup

Bumble (NASDAQ:BMBL) had its price objective decreased by analysts at Citigroup from $8.00 to $6.80 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 24.66% from the stock’s current price.

Several other research firms have also recently issued reports on BMBL. Stifel Nicolaus upped their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Susquehanna upped 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. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Morgan Stanley upped their price target on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group upped their price target on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.05.

Bumble Trading Down 3.3 %

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

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new position in Bumble in the 3rd quarter valued at about $911,000. Victory Capital Management Inc. grew its position in Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after buying an additional 206,215 shares in the last quarter. JPMorgan Chase & Co. grew its position in Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after buying an additional 2,760 shares in the last quarter. Franklin Resources Inc. grew its position in Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after buying an additional 6,325 shares in the last quarter. Finally, Creative Planning grew its position in Bumble by 437.5% in the 3rd quarter. Creative Planning now owns 54,055 shares of the company’s stock valued at $345,000 after buying an additional 43,998 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.