Wells Fargo & Company Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price dropped by equities research analysts at Wells Fargo & Company from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 13.58% from the company’s current price.

A number of other research firms have also recently commented on BMBL. Morgan Stanley lifted their price target 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. Stifel Nicolaus lowered their target price on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Citigroup lowered their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.30.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $8.10 on Wednesday. Bumble has a twelve month low of $4.80 and a twelve month high of $13.56. The stock’s 50 day moving average price is $8.03 and its 200-day moving average price is $7.44. The company has a market capitalization of $876.26 million, a PE ratio of -1.66 and a beta of 1.70. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new position in Bumble in the fourth quarter worth $56,000. Tower Research Capital LLC TRC grew its position in Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after acquiring an additional 1,249 shares in the last quarter. SG Americas Securities LLC purchased a new position in Bumble in the third quarter worth $71,000. Capital Management Associates Inc purchased a new position in Bumble in the third quarter worth $74,000. Finally, D.A. Davidson & CO. purchased a new stake in Bumble during the third quarter valued at about $77,000. 94.85% of the stock is currently owned by hedge funds and other 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.