Stifel Nicolaus Cuts Bumble (NASDAQ:BMBL) Price Target to $6.00

Bumble (NASDAQ:BMBL) had its target price cut by research analysts at Stifel Nicolaus from $7.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential downside of 25.93% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 target price (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Morgan Stanley boosted their price objective on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Susquehanna increased their target price on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their price target on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Bumble has an average rating of “Hold” and a consensus target price of $8.36.

Bumble Stock Performance

Shares of NASDAQ BMBL opened at $8.10 on Wednesday. Bumble has a 12 month low of $4.80 and a 12 month high of $13.56. The company has a market cap of $876.26 million, a P/E ratio of -1.66 and a beta of 1.70. The business’s 50 day moving average is $8.03 and its two-hundred day moving average is $7.44. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On Bumble

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Bumble during the 3rd quarter worth about $71,000. Creative Planning grew its stake in Bumble by 437.5% during the third quarter. Creative Planning now owns 54,055 shares of the company’s stock worth $345,000 after buying an additional 43,998 shares during the last quarter. Capital Management Associates Inc acquired a new stake in shares of Bumble during the third quarter worth approximately $74,000. Westbourne Investment Advisors Inc. raised its stake in shares of 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 acquiring an additional 59,970 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in shares of Bumble in the 3rd quarter worth approximately $246,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Company Profile

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.