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

Bumble (NASDAQ:BMBL - Get Free Report) had its price objective reduced by research analysts at Citigroup from $8.00 to $6.80 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price objective suggests a potential upside of 30.42% from the stock's current price.

A number of other research analysts have also recently commented on the stock. Stifel Nicolaus increased their target price on shares of Bumble from $6.50 to $7.00 and gave the stock a "hold" rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Wolfe Research cut shares of Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Piper Sandler reissued a "neutral" rating and issued a $8.00 target price (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, Susquehanna increased their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.05.

Bumble Price Performance

BMBL traded down $0.26 on Wednesday, hitting $5.21. 5,748,717 shares of the stock were exchanged, compared to its average volume of 3,005,158. Bumble has a 12 month low of $4.80 and a 12 month high of $13.36. The business has a 50-day moving average of $7.92 and a two-hundred day moving average of $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. The firm has a market capitalization of $564.05 million, a price-to-earnings ratio of -1.07 and a beta of 1.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMBL. SG Americas Securities LLC acquired a new position in shares of Bumble in the third quarter valued at approximately $71,000. Creative Planning increased its position in Bumble by 437.5% during the 3rd quarter. Creative Planning now owns 54,055 shares of the company's stock valued at $345,000 after purchasing an additional 43,998 shares during the period. Capital Management Associates Inc acquired a new stake in Bumble during the 3rd quarter valued at approximately $74,000. Westbourne Investment Advisors Inc. increased its position in 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 purchasing an additional 59,970 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in Bumble during the 3rd quarter valued at approximately $246,000. Institutional investors and hedge funds own 94.85% of the company's stock.

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.