Bumble (NASDAQ:BMBL) Shares Gap Down Following Analyst Downgrade

Bumble Inc. (NASDAQ:BMBL - Get Free Report) shares gapped down prior to trading on Wednesday after Susquehanna lowered their price target on the stock from $8.00 to $6.00. The stock had previously closed at $8.10, but opened at $6.59. Susquehanna currently has a neutral rating on the stock. Bumble shares last traded at $6.24, with a volume of 2,907,937 shares.

BMBL has been the subject of a number of other research reports. Morgan Stanley boosted their target price on Bumble from $7.50 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Wells Fargo & Company lowered their price objective on shares of Bumble from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Evercore ISI dropped their target price on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating on the stock in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price target on Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.05.

Hedge Funds Weigh In On Bumble

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in Bumble in the 3rd quarter worth $911,000. Victory Capital Management Inc. boosted its stake in Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company's stock worth $1,595,000 after purchasing an additional 206,215 shares during the period. JPMorgan Chase & Co. grew its holdings in Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company's stock valued at $841,000 after buying an additional 2,760 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Bumble by 11.3% during the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company's stock valued at $421,000 after buying an additional 6,325 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Bumble in the fourth quarter worth $214,000. Hedge funds and other institutional investors own 94.85% of the company's stock.

Bumble Trading Down 4.7 %

The stock has a market cap of $564.05 million, a P/E ratio of -1.07 and a beta of 1.70. The stock's 50-day moving average is $7.92 and its two-hundred day moving average is $7.42. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

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.