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

Bumble (NASDAQ:BMBL) had its price objective reduced by The Goldman Sachs Group from $10.00 to $8.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on BMBL. Evercore ISI cut their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Stifel Nicolaus cut their price objective on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Susquehanna cut their price objective on Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. cut their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. One equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.25.

Bumble Price Performance

Shares of Bumble stock opened at $5.01 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The business’s 50 day simple moving average is $6.89 and its two-hundred day simple moving average is $7.24. The stock has a market capitalization of $528.79 million, a P/E ratio of -1.02 and a beta of 1.77. Bumble has a one year low of $4.58 and a one year high of $12.49.

Institutional Investors Weigh In On Bumble

Several hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after acquiring an additional 1,249 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Bumble by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after acquiring an additional 1,666 shares in the last quarter. Rhumbline Advisers boosted its holdings in Bumble by 1.4% in the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock worth $1,262,000 after acquiring an additional 2,157 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Aigen Investment Management LP raised its stake in shares of Bumble by 14.2% in the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock worth $253,000 after purchasing an additional 3,853 shares during the last quarter. 94.85% of the stock is owned by institutional investors.

About Bumble

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.