Bumble (NASDAQ:BMBL) Given New $8.00 Price Target at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) had its price target cut by equities research analysts at The Goldman Sachs Group from $10.00 to $8.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 60.80% from the stock’s current price.

BMBL has been the subject of a number of other research reports. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Susquehanna dropped their price target on Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Stifel Nicolaus cut their price target on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada decreased 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. Finally, Citigroup cut their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bumble presently has a consensus rating of “Hold” and an average target price of $7.25.

Bumble Stock Up 3.2 %

BMBL traded up $0.16 on Monday, hitting $4.98. 887,872 shares of the company were exchanged, compared to its average volume of 2,992,317. 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’s fifty day moving average is $6.95 and its 200-day moving average is $7.26. The company has a market cap of $525.09 million, a PE ratio of -1.02 and a beta of 1.77. Bumble has a 12 month low of $4.58 and a 12 month high of $12.49.

Hedge Funds Weigh In On Bumble

Hedge funds have recently bought and sold shares of the company. Empowered Funds LLC bought a new position in shares of Bumble in the 4th quarter valued at $187,000. Principal Financial Group Inc. bought a new position in Bumble in the third quarter valued at about $911,000. Victory Capital Management Inc. grew its position in Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after acquiring an additional 206,215 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Bumble in the fourth quarter worth about $189,000. 94.85% of the stock is 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.