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

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

A number of other research analysts have also recently issued reports on BMBL. Citigroup decreased their target price on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their target price on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday. The Goldman Sachs Group upped their price objective on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Susquehanna upped their price objective on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada reduced their price objective on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.05.

Bumble Stock Down 4.7 %

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 company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $564.06 million, a price-to-earnings ratio of -1.07 and a beta of 1.70. The stock has a 50-day moving average price of $7.86 and a two-hundred day moving average price of $7.40.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BMBL. SG Americas Securities LLC acquired a new position in Bumble during the third quarter valued at approximately $71,000. Creative Planning raised its stake in Bumble by 437.5% in the third quarter. Creative Planning now owns 54,055 shares of the company’s stock valued at $345,000 after buying an additional 43,998 shares during the period. Capital Management Associates Inc bought a new stake in Bumble in the third quarter valued at approximately $74,000. Westbourne Investment Advisors Inc. raised its stake in Bumble by 17.1% in the third quarter. Westbourne Investment Advisors Inc. now owns 410,811 shares of the company’s stock valued at $2,621,000 after buying an additional 59,970 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in Bumble in the third quarter valued at approximately $246,000. 94.85% of the stock is owned by institutional investors and hedge funds.

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.