Bumble (NASDAQ:BMBL) Price Target Lowered to $6.00 at Susquehanna

Bumble (NASDAQ:BMBL - Get Free Report) had its price target lowered by investment analysts at Susquehanna from $8.00 to $6.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Susquehanna's target price indicates a potential upside of 15.07% from the stock's previous close.

BMBL has been the subject of a number of other reports. Evercore ISI cut their price target on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating for the company in a report on Wednesday. Royal Bank of Canada cut their price target on shares of Bumble from $8.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday. Wolfe Research lowered shares of Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective on shares of Bumble from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Piper Sandler reduced their price objective on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.05.

Bumble Price Performance

NASDAQ BMBL traded down $0.26 on Thursday, reaching $5.21. The company's stock had a trading volume of 7,188,133 shares, compared to its average volume of 3,086,513. Bumble has a twelve month low of $4.80 and a twelve month high of $13.36. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market cap of $564.05 million, a PE ratio of -1.07 and a beta of 1.70. The firm's 50 day moving average is $7.86 and its two-hundred day moving average is $7.40.

Hedge Funds Weigh In On Bumble

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Bumble in the fourth quarter worth approximately $56,000. Tower Research Capital LLC TRC increased 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 buying an additional 1,249 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Bumble by 56.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company's stock worth $90,000 after buying an additional 4,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in Bumble in the third quarter worth approximately $71,000. Finally, Capital Management Associates Inc acquired a new position in Bumble in the third quarter worth approximately $74,000. Institutional investors and hedge funds 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.