Bumble (NASDAQ:BMBL) Stock Rating Lowered by Wolfe Research

Wolfe Research downgraded shares of Bumble (NASDAQ:BMBL) from an outperform rating to a peer perform rating in a report published on Friday morning, Marketbeat reports.

Several other brokerages have also issued reports on BMBL. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. KeyCorp lowered shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Finally, Citigroup upped their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating 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 assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $8.38.

Bumble Stock Up 1.6 %

Shares of BMBL stock opened at $8.10 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble has a 1 year low of $4.80 and a 1 year high of $15.05. The firm’s fifty day moving average price is $8.07 and its two-hundred day moving average price is $7.83. The firm has a market capitalization of $876.27 million, a P/E ratio of -1.66 and a beta of 1.71.

Institutional Trading of Bumble

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in shares of Bumble during the 3rd quarter worth approximately $911,000. Victory Capital Management Inc. increased its position in Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Bumble during the 2nd quarter worth approximately $823,000. Susquehanna Fundamental Investments LLC acquired a new position in Bumble during the 2nd quarter worth approximately $1,716,000. Finally, Versor Investments LP acquired a new position in Bumble during the 2nd quarter worth approximately $324,000. 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.