Wells Fargo & Company Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL - Get Free Report) had its target price dropped by Wells Fargo & Company from $7.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 25.31% from the stock's current price.

BMBL has been the subject of several other research reports. Wolfe Research downgraded shares of Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. The Goldman Sachs Group reduced their price target on Bumble from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Piper Sandler cut their target price on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley decreased their price target on shares of Bumble from $8.00 to $6.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada reduced their price objective on shares of Bumble from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.12.

Bumble Trading Up 1.0 %

Shares of BMBL traded up $0.04 during midday trading on Wednesday, hitting $3.99. 3,083,657 shares of the stock were exchanged, compared to its average volume of 3,118,050. Bumble has a 52-week low of $3.55 and a 52-week high of $12.49. 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 fifty day simple moving average of $5.40 and a 200 day simple moving average of $6.92. The firm has a market cap of $421.13 million, a P/E ratio of -0.82 and a beta of 1.77.

Hedge Funds Weigh In On Bumble

Several hedge funds have recently bought and sold shares of the company. RPD Fund Management LLC acquired a new position in shares of Bumble during the 4th quarter worth $30,940,000. Ameriprise Financial Inc. raised its position in Bumble by 25.5% during the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock worth $51,953,000 after acquiring an additional 1,298,630 shares during the last quarter. RBF Capital LLC acquired a new position in Bumble during the fourth quarter worth about $5,157,000. First Trust Advisors LP lifted its holdings in shares of Bumble by 429.5% in the fourth quarter. First Trust Advisors LP now owns 772,394 shares of the company's stock valued at $6,287,000 after purchasing an additional 626,528 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Bumble by 202.9% in the fourth quarter. Barclays PLC now owns 553,186 shares of the company's stock valued at $4,503,000 after purchasing an additional 370,568 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.