Susquehanna Lowers Bumble (NASDAQ:BMBL) Price Target to $5.00

Bumble (NASDAQ:BMBL) had its target price lowered by Susquehanna from $6.00 to $5.00 in a report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts also recently commented on BMBL. Piper Sandler reduced their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group upped their target price on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upped their target price on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada dropped their target price on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.52.

Bumble Stock Up 7.4 %

NASDAQ BMBL opened at $5.08 on Friday. The business has a fifty day moving average price of $7.34 and a 200 day moving average price of $7.32. Bumble has a one year low of $4.58 and a one year high of $12.49. 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 company has a market cap of $549.56 million, a P/E ratio of -1.04 and a beta of 1.77.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new position in Bumble during the 4th quarter worth about $56,000. Tower Research Capital LLC TRC lifted its stake in Bumble by 20.3% during the 4th 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. D.A. Davidson & CO. acquired a new position in Bumble during the 3rd quarter worth about $77,000. Quantinno Capital Management LP acquired a new position in Bumble during the 3rd quarter worth about $90,000. Finally, Canada Pension Plan Investment Board lifted its stake in Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock worth $90,000 after acquiring an additional 4,000 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other 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.