Bumble (NASDAQ:BMBL) Sets New 1-Year Low – Here’s Why

Shares of Bumble Inc. (NASDAQ:BMBL) reached a new 52-week low during trading on Tuesday . The company traded as low as $4.61 and last traded at $4.70, with a volume of 235151 shares traded. The stock had previously closed at $4.89.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BMBL shares. 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 note on Thursday, November 7th. Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Susquehanna cut their price target on shares of Bumble from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Citigroup cut their price target on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley raised their price target on shares of Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.59.

Bumble Trading Down 4.2 %

The company’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $7.36. The firm has a market cap of $506.83 million, a price-to-earnings ratio of -0.96 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

Hedge Funds Weigh In On Bumble

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC acquired a new position in shares of Bumble in the fourth quarter worth $187,000. Principal Financial Group Inc. acquired a new position in shares of Bumble in the third quarter worth $911,000. Victory Capital Management Inc. grew its stake 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 acquiring an additional 206,215 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 acquiring an additional 2,760 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake 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 acquiring an additional 6,325 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.