JPMorgan Chase & Co. Cuts Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL) had its price target reduced by JPMorgan Chase & Co. from $8.00 to $7.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also commented on BMBL. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Citigroup cut their price objective on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research report on Wednesday. Piper Sandler cut their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday. Evercore ISI cut their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.05.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $5.21 on Wednesday. Bumble has a 1-year low of $4.80 and a 1-year high of $13.36. The firm has a market capitalization of $564.06 million, a PE ratio of -1.07 and a beta of 1.70. The business’s 50 day moving average is $7.86 and its 200-day moving average is $7.40. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp bought a new stake in Bumble in the fourth quarter valued at about $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 purchasing an additional 48,207 shares during the last quarter. Wexford Capital LP bought a new stake in Bumble in the fourth quarter valued at about $98,000. Two Sigma Investments LP bought a new stake in Bumble in the fourth quarter valued at about $476,000. Finally, RPD Fund Management LLC bought a new stake in Bumble in the fourth quarter valued at about $30,940,000. 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.