Bumble (NASDAQ:BMBL) Price Target Cut to $7.00 by Analysts at JPMorgan Chase & Co.

Bumble (NASDAQ:BMBL) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 28.32% from the company’s previous close.

Several other equities research analysts have also recently commented on BMBL. Piper Sandler cut their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stifel Nicolaus cut their target price on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday. Evercore ISI reduced their price objective on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Wednesday. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Morgan Stanley lifted their price target on Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Bumble presently has a consensus rating of “Hold” and an average price target of $8.05.

Bumble Stock Performance

Shares of BMBL stock opened at $5.46 on Wednesday. The company has a market capitalization of $590.12 million, a P/E ratio of -1.12 and a beta of 1.70. Bumble has a 52 week low of $4.80 and a 52 week high of $13.36. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The company’s 50 day moving average price is $7.92 and its two-hundred day moving average price is $7.42.

Institutional Investors Weigh In On Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in Bumble during the fourth quarter worth about $56,000. Tower Research Capital LLC TRC boosted its holdings in Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock worth $90,000 after purchasing an additional 4,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Bumble during the third quarter worth approximately $71,000. Finally, Capital Management Associates Inc bought a new position in shares of Bumble during the third quarter worth approximately $74,000. Institutional investors and hedge funds 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.