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

Bumble (NASDAQ:BMBL) had its price target lowered by Wells Fargo & Company from $8.00 to $7.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also issued reports 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 cut their price objective on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday. Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group boosted their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Susquehanna lifted their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Bumble presently has an average rating of “Hold” and an average target price of $8.05.

Bumble Stock Down 4.7 %

Shares of Bumble stock opened at $5.21 on Wednesday. The company has a market cap of $564.06 million, a price-to-earnings ratio of -1.07 and a beta of 1.70. The company’s 50 day moving average is $7.86 and its 200 day moving average is $7.40. Bumble has a twelve month low of $4.80 and a twelve month 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 Investors Weigh In On Bumble

A number of hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new stake in shares of Bumble in the fourth quarter valued at about $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bumble by 26.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company’s stock valued at $1,887,000 after buying an additional 48,207 shares during the last quarter. Wexford Capital LP acquired a new position in Bumble in the fourth quarter valued at about $98,000. Two Sigma Investments LP acquired a new position in Bumble in the fourth quarter valued at about $476,000. Finally, RPD Fund Management LLC acquired a new position in Bumble in the fourth quarter valued at about $30,940,000. Hedge funds and other 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.