Citigroup Cuts Bumble (NASDAQ:BMBL) Price Target to $6.80

Bumble (NASDAQ:BMBL) had its price objective decreased by Citigroup from $8.00 to $6.80 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in 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 research note on Monday, January 13th. Piper Sandler reiterated a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Susquehanna lifted their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.05.

Bumble Stock Performance

BMBL opened at $5.21 on Wednesday. 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 company has a market cap of $564.06 million, a price-to-earnings ratio of -1.07 and a beta of 1.70. The company’s 50 day moving average is $7.86 and its 200 day moving average is $7.40. Bumble has a 12-month low of $4.80 and a 12-month high of $13.36.

Institutional Trading of Bumble

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in Bumble in the 3rd quarter worth $911,000. Victory Capital Management Inc. lifted its position in shares of Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after buying an additional 206,215 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after buying an additional 2,760 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Bumble by 11.3% in the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after buying an additional 6,325 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Bumble during the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors 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.