The Goldman Sachs Group Cuts Bumble (NASDAQ:BMBL) Price Target to $8.00

Bumble (NASDAQ:BMBL) had its price objective trimmed by The Goldman Sachs Group from $10.00 to $8.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on BMBL. JPMorgan Chase & Co. cut their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Citigroup reduced their price objective on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley dropped their target price on Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Piper Sandler dropped their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One investment 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 MarketBeat, Bumble presently has an average rating of “Hold” and an average target price of $7.25.

Bumble Stock Performance

Bumble stock opened at $4.69 on Monday. The company has a fifty day moving average price of $6.76 and a two-hundred day moving average price of $7.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble has a 12 month low of $4.57 and a 12 month high of $12.49. The company has a market cap of $495.01 million, a PE ratio of -0.96 and a beta of 1.77.

Institutional Trading of Bumble

Institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Bumble in the fourth quarter worth about $149,000. Mackenzie Financial Corp acquired a new position in shares of Bumble in the 4th quarter worth approximately $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Bumble by 26.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company’s stock worth $1,887,000 after purchasing an additional 48,207 shares in the last quarter. Wexford Capital LP acquired a new stake in Bumble during the fourth quarter valued at approximately $98,000. Finally, Two Sigma Investments LP acquired a new stake in Bumble during the fourth quarter valued at approximately $476,000. 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.