Bumble (NASDAQ:BMBL) Price Target Lowered to $7.00 at JPMorgan Chase & Co.

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

BMBL has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on Bumble from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday. Susquehanna raised their price objective on Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Royal Bank of Canada decreased their price objective on Bumble from $8.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday. Morgan Stanley raised their price objective on Bumble from $7.50 to $8.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised their price objective on Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, November 7th. One equities 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. According to MarketBeat, Bumble presently has a consensus rating of "Hold" and a consensus price target of $8.05.

Bumble Stock Down 4.7 %

BMBL stock traded down $0.26 during trading hours on Wednesday, reaching $5.21. 6,779,975 shares of the stock were exchanged, compared to its average volume of 3,074,511. The firm's 50-day moving average is $7.92 and its 200-day moving average is $7.42. The company has a market cap of $564.05 million, a price-to-earnings ratio of -1.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble has a 12 month low of $4.80 and a 12 month high of $13.36.

Hedge Funds Weigh In On Bumble

A number of hedge funds and other institutional investors have recently bought and sold shares of BMBL. FNY Investment Advisers LLC bought a new position in Bumble during the fourth quarter worth about $56,000. Tower Research Capital LLC TRC lifted its position in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock worth $60,000 after acquiring an additional 1,249 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Bumble during the third quarter worth approximately $71,000. Capital Management Associates Inc acquired a new stake in Bumble during the third quarter worth approximately $74,000. Finally, D.A. Davidson & CO. acquired a new stake in Bumble during the third quarter worth approximately $77,000. Institutional investors 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.