Bumble (NASDAQ:BMBL) Price Target Lowered to $6.00 at Susquehanna

Bumble (NASDAQ:BMBL) had its price objective decreased by investment analysts at Susquehanna from $8.00 to $6.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 8.79% from the company’s previous close.

Several other brokerages also recently commented on BMBL. Piper Sandler lowered their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday. Royal Bank of Canada reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup reduced their price target on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Evercore ISI reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.05.

Bumble Stock Down 2.4 %

Shares of BMBL stock traded down $0.14 on Thursday, hitting $5.52. The stock had a trading volume of 3,947,711 shares, compared to its average volume of 2,835,363. The business has a 50 day moving average of $7.98 and a 200 day moving average of $7.43. The stock has a market cap of $596.61 million, a price-to-earnings ratio of -1.12 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

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in Bumble in the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC raised its stake in shares of 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Bumble during the third quarter worth approximately $71,000. Capital Management Associates Inc purchased a new position in shares of Bumble during the third quarter worth approximately $74,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Bumble during the third quarter worth approximately $77,000. 94.85% of the stock is currently owned by 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.