Wells Fargo & Company Lowers Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL) had its price target trimmed by Wells Fargo & Company from $8.00 to $7.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts have also recently issued reports on BMBL. The Goldman Sachs Group increased their price target 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. Morgan Stanley increased their price target on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna increased their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus reduced their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Bumble currently has an average rating of “Hold” and an average target price of $8.05.

Bumble Trading Down 4.7 %

NASDAQ BMBL opened at $5.21 on Wednesday. The stock has a market capitalization of $564.06 million, a P/E ratio of -1.07 and a beta of 1.70. Bumble has a 12 month low of $4.80 and a 12 month high of $13.36. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The firm’s 50-day moving average is $7.86 and its two-hundred day moving average is $7.40.

Hedge Funds Weigh In On Bumble

Several hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its stake in Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after purchasing an additional 1,298,630 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Bumble by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after acquiring an additional 22,136 shares during the last quarter. RPD Fund Management LLC purchased a new position in shares of Bumble during the fourth quarter worth approximately $30,940,000. Geode Capital Management LLC grew its position in shares of Bumble by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock worth $14,872,000 after acquiring an additional 14,889 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Bumble by 3.5% during the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after acquiring an additional 32,353 shares during the last quarter. 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.