Piper Sandler Cuts Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL) had its target price lowered by Piper Sandler from $8.00 to $7.00 in a research note published on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Citigroup cut their price target on Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a research note on Wednesday. Stifel Nicolaus cut their price target on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday. Morgan Stanley increased their price target on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Susquehanna increased their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.05.

Bumble Stock Performance

BMBL stock opened at $5.21 on Wednesday. The business’s fifty day moving average is $7.86 and its 200-day moving average is $7.40. 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 company has a market cap of $564.06 million, a P/E ratio of -1.07 and a beta of 1.70. Bumble has a twelve month low of $4.80 and a twelve month high of $13.36.

Institutional Trading of Bumble

Several hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Bumble in the 4th quarter valued at about $56,000. Tower Research Capital LLC TRC grew its holdings in shares of Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after acquiring an additional 1,249 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Bumble in the 3rd quarter valued at about $71,000. Capital Management Associates Inc bought a new position in shares of Bumble in the 3rd quarter valued at about $74,000. Finally, D.A. Davidson & CO. bought a new position in shares of Bumble in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds 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.