Piper Sandler Issues Pessimistic Forecast for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price decreased by analysts at Piper Sandler from $8.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 28.32% from the stock’s previous close.

BMBL has been the subject of a number of other reports. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Morgan Stanley boosted their target price on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Susquehanna raised their price target on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup cut their price target on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Bumble has a consensus rating of “Hold” and a consensus target price of $8.05.

Bumble Trading Down 3.3 %

Shares of NASDAQ:BMBL opened at $5.46 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble has a 1 year low of $4.80 and a 1 year high of $13.36. The company has a market cap of $590.12 million, a P/E ratio of -1.12 and a beta of 1.70. The stock’s fifty day moving average price is $7.92 and its 200-day moving average price is $7.42.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently modified their holdings of BMBL. SG Americas Securities LLC purchased a new stake in Bumble in the 3rd quarter worth $71,000. Creative Planning boosted its stake in shares of Bumble by 437.5% in the third quarter. Creative Planning now owns 54,055 shares of the company’s stock worth $345,000 after acquiring an additional 43,998 shares during the period. Capital Management Associates Inc bought a new position in shares of Bumble in the third quarter worth about $74,000. Westbourne Investment Advisors Inc. grew its position in shares of Bumble by 17.1% during the third 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 in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in Bumble during the 3rd quarter valued at approximately $246,000. 94.85% of the stock is currently 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.