Citigroup Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price lowered by research analysts at Citigroup from $8.00 to $6.80 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential downside of 16.05% from the company’s current price.

BMBL has been the topic of several other research reports. The Goldman Sachs Group boosted their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Susquehanna boosted their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Stifel Nicolaus raised their target price on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley increased their price objective on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.36.

Bumble Price Performance

Shares of BMBL stock opened at $8.10 on Wednesday. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $13.56. 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 firm has a market capitalization of $876.26 million, a price-to-earnings ratio of -1.66 and a beta of 1.70. The stock’s 50-day simple moving average is $8.03 and its 200-day simple moving average is $7.44.

Institutional Investors Weigh In On Bumble

A number of institutional investors have recently modified their holdings of BMBL. Tower Research Capital LLC TRC boosted its position in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after purchasing an additional 1,249 shares in the last quarter. Franklin Resources Inc. increased its holdings in Bumble by 2.7% in the 4th quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after acquiring an additional 1,666 shares in the last quarter. Rhumbline Advisers raised its position in Bumble by 1.4% during the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock worth $1,262,000 after acquiring an additional 2,157 shares during the period. JPMorgan Chase & Co. lifted its holdings in Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after purchasing an additional 2,760 shares in the last quarter. Finally, Aigen Investment Management LP grew its position in shares of Bumble by 14.2% in the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock valued at $253,000 after purchasing an additional 3,853 shares during the period. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.