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

Bumble (NASDAQ:BMBL) had its target price reduced by equities research analysts at Susquehanna from $6.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price target would indicate a potential upside of 0.32% from the stock’s current price.

BMBL has been the subject of several other research reports. Stifel Nicolaus decreased their target price on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group upped their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley upped their price target on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Citigroup lowered their price objective on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a research 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.52.

Bumble Price Performance

Shares of NASDAQ:BMBL traded up $0.25 during trading on Friday, reaching $4.98. The company had a trading volume of 881,083 shares, compared to its average volume of 2,999,228. The firm has a market capitalization of $539.18 million, a PE ratio of -1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. Bumble has a twelve month low of $4.58 and a twelve month high of $12.49. The firm’s fifty day moving average is $7.34 and its 200 day moving average is $7.32.

Hedge Funds Weigh In On Bumble

Several large investors have recently made changes to their positions in BMBL. Ameriprise Financial Inc. grew its holdings in shares of Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after purchasing an additional 1,298,630 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Bumble by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after purchasing an additional 22,136 shares during the period. RPD Fund Management LLC acquired a new stake in Bumble during the fourth quarter worth $30,940,000. Geode Capital Management LLC increased its holdings in Bumble by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after buying an additional 14,889 shares during the period. Finally, Northern Trust Corp raised its position in Bumble by 3.5% in the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after purchasing an additional 32,353 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.