Bumble (NASDAQ:BMBL) Price Target Cut to $7.00 by Analysts at Piper Sandler

Bumble (NASDAQ:BMBL - Get Free Report) had its price target decreased by research analysts at Piper Sandler from $8.00 to $7.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 34.25% from the company's current price.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Bumble from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Wolfe Research downgraded shares of Bumble from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Susquehanna boosted their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. Finally, Citigroup dropped their target price on shares of Bumble from $8.00 to $6.80 and set a "neutral" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.05.

Bumble Stock Down 4.7 %

Shares of NASDAQ BMBL traded down $0.26 during trading hours on Wednesday, hitting $5.21. 5,748,717 shares of the stock were exchanged, compared to its average volume of 3,005,158. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The company has a market cap of $564.05 million, a PE ratio of -1.07 and a beta of 1.70. The firm has a fifty day moving average price of $7.92 and a 200-day moving average price of $7.42. Bumble has a 12 month low of $4.80 and a 12 month high of $13.36.

Hedge Funds Weigh In On Bumble

Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in shares of Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock valued at $51,953,000 after buying an additional 1,298,630 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bumble by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company's stock valued at $32,279,000 after buying an additional 22,136 shares during the last quarter. RPD Fund Management LLC acquired a new stake in shares of Bumble in the fourth quarter valued at about $30,940,000. Geode Capital Management LLC raised its position in shares of Bumble by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company's stock valued at $14,872,000 after buying an additional 14,889 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Bumble by 3.5% in the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company's stock valued at $7,733,000 after buying an additional 32,353 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.