Bumble (NASDAQ:BMBL) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of Bumble (NASDAQ:BMBL) from an outperform rating to a peer perform rating in a report issued on Friday morning, Marketbeat reports.

Several other equities analysts also recently weighed in on the company. Susquehanna increased their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Citigroup upped their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.38.

Bumble Stock Up 1.6 %

BMBL opened at $8.10 on Friday. The firm has a market cap of $876.27 million, a P/E ratio of -1.66 and a beta of 1.71. The business’s fifty day simple moving average is $8.09 and its 200 day simple moving average is $7.78. Bumble has a 52 week low of $4.80 and a 52 week high of $15.05. 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 Trading of Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of BMBL. Meeder Asset Management Inc. bought a new stake in Bumble in the second quarter worth about $82,000. Headlands Technologies LLC bought a new stake in shares of Bumble in the 2nd quarter worth approximately $94,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Bumble during the second quarter valued at approximately $111,000. SG Americas Securities LLC bought a new stake in Bumble during the third quarter worth approximately $71,000. Finally, Capital Management Associates Inc acquired a new position in Bumble in the third quarter worth approximately $74,000. 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.