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

Bumble (NASDAQ:BMBL) had its target price reduced by Susquehanna from $8.00 to $6.00 in a research note issued to investors on Thursday morning,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other research firms also recently issued reports on BMBL. The Goldman Sachs Group increased their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company dropped their price objective on Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada reduced their target price on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday. Piper Sandler decreased their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.05.

Bumble Stock Performance

Shares of BMBL stock opened at $5.46 on Thursday. The firm’s 50 day moving average is $7.92 and its 200 day moving average is $7.42. The stock has a market capitalization of $590.12 million, a P/E ratio of -1.12 and a beta of 1.70. Bumble has a 12 month low of $4.80 and a 12 month high of $13.36. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Trading of Bumble

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