Stifel Nicolaus Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price objective decreased by equities researchers at Stifel Nicolaus from $7.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential downside of 25.93% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Morgan Stanley lifted their target price on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group increased their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Susquehanna boosted their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Bumble currently has a consensus rating of “Hold” and an average target price of $8.36.

Bumble Trading Down 4.3 %

Bumble stock opened at $8.10 on Wednesday. Bumble has a 52-week low of $4.80 and a 52-week high of $13.56. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $876.26 million, a price-to-earnings ratio of -1.66 and a beta of 1.70. The firm has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $7.44.

Institutional Investors Weigh In On Bumble

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in shares of Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after buying an additional 1,298,630 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Bumble by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after purchasing an additional 22,136 shares during the period. RPD Fund Management LLC acquired a new position in Bumble during the fourth quarter valued at approximately $30,940,000. Geode Capital Management LLC raised its position in shares of Bumble by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after purchasing an additional 14,889 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Bumble by 3.5% in the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after buying an additional 32,353 shares during the last quarter. 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.