Bumble (NASDAQ:BMBL) Price Target Lowered to $8.00 at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) had its target price decreased by equities researchers at The Goldman Sachs Group from $10.00 to $8.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 73.54% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Company reduced their price target on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada reduced their price target on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Evercore ISI reduced their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.25.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $4.61 on Monday. Bumble has a 1-year low of $4.57 and a 1-year high of $12.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The business has a fifty day moving average price of $6.82 and a 200-day moving average price of $7.23. The company has a market capitalization of $486.57 million, a PE ratio of -0.94 and a beta of 1.77.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BMBL. RPD Fund Management LLC purchased a new position in shares of Bumble during the 4th quarter valued at about $30,940,000. Ameriprise Financial Inc. lifted its position in shares of Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after buying an additional 1,298,630 shares in the last quarter. RBF Capital LLC purchased a new position in shares of Bumble during the 4th quarter valued at about $5,157,000. First Trust Advisors LP lifted its holdings in Bumble by 429.5% in the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock worth $6,287,000 after purchasing an additional 626,528 shares in the last quarter. Finally, Barclays PLC boosted its stake in Bumble by 202.9% in the 4th quarter. Barclays PLC now owns 553,186 shares of the company’s stock worth $4,503,000 after purchasing an additional 370,568 shares during the period. 94.85% of the stock is 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.