Bumble (NASDAQ:BMBL) Receives “Neutral” Rating from Piper Sandler

Bumble (NASDAQ:BMBL)‘s stock had its “neutral” rating reissued by analysts at Piper Sandler in a research report issued on Thursday,Benzinga reports. They currently have a $8.00 target price on the stock, up from their previous target price of $7.00. Piper Sandler’s target price suggests a potential downside of 3.61% from the company’s current price.

Several other analysts have also recently weighed in on BMBL. Citigroup cut shares of Bumble from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $12.00 to $6.00 in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their target price on Bumble from $18.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Bank of America lowered shares of Bumble from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $12.00 to $5.50 in a report on Thursday, August 8th. Susquehanna lowered shares of Bumble from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $6.00 in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut shares of Bumble from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $17.00 to $7.00 in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Bumble currently has an average rating of “Hold” and an average price target of $8.25.

Bumble Stock Performance

Bumble stock opened at $8.30 on Thursday. The firm has a market capitalization of $1.05 billion, a P/E ratio of -1.65 and a beta of 1.62. The stock has a fifty day moving average price of $6.78 and a two-hundred day moving average price of $8.59. Bumble has a 52-week low of $4.80 and a 52-week high of $15.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 2.38.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in Bumble in the 1st quarter valued at about $937,000. Duality Advisers LP bought a new position in shares of Bumble during the 1st quarter worth approximately $1,049,000. Quantbot Technologies LP acquired a new position in shares of Bumble during the 1st quarter worth approximately $558,000. SG Americas Securities LLC boosted its position in Bumble by 94.9% during the first quarter. SG Americas Securities LLC now owns 45,482 shares of the company’s stock worth $516,000 after purchasing an additional 22,146 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Bumble by 8.5% in the first quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock valued at $206,000 after purchasing an additional 1,430 shares during the last quarter. 94.85% of the stock is owned by institutional investors.

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.