Bumble (NASDAQ:BMBL) Price Target Lowered to $7.00 at Wells Fargo & Company

Bumble (NASDAQ:BMBL - Get Free Report) had its price target decreased by stock analysts at Wells Fargo & Company from $8.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 34.25% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. Wolfe Research downgraded shares of Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Citigroup reduced their price target on shares of Bumble from $8.00 to $6.80 and set a "neutral" rating on the stock in a research note on Wednesday. Morgan Stanley boosted their price target on shares of Bumble from $7.50 to $8.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price target 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, Stifel Nicolaus reduced their price target on shares of Bumble from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Wednesday. One 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 currently has an average rating of "Hold" and a consensus target price of $8.05.

Bumble Trading Down 4.7 %

NASDAQ:BMBL traded down $0.26 on Wednesday, hitting $5.21. The stock had a trading volume of 5,748,717 shares, compared to its average volume of 3,005,158. The company has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $7.42. The stock has a market cap of $564.05 million, a price-to-earnings ratio of -1.07 and a beta of 1.70. Bumble has a 1-year low of $4.80 and a 1-year high of $13.36. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in Bumble by 25.5% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Bumble by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company's stock worth $32,279,000 after acquiring an additional 22,136 shares in the last quarter. RPD Fund Management LLC acquired a new position in shares of Bumble in the 4th quarter valued at $30,940,000. Geode Capital Management LLC boosted its holdings in shares of Bumble by 0.6% in the 3rd 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Bumble by 3.5% in the 4th 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 in the last quarter. 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.