Bumble (NASDAQ:BMBL) Rating Lowered to “Peer Perform” at Wolfe Research

Bumble (NASDAQ:BMBL) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Friday, MarketBeat.com reports.

Several other equities analysts have also weighed in on BMBL. The Goldman Sachs Group increased their price target on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup raised their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. KeyCorp lowered Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Finally, Piper Sandler restated a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Bumble presently has an average rating of “Hold” and an average price target of $8.38.

Bumble Stock Performance

BMBL stock opened at $8.10 on Friday. Bumble has a 12-month low of $4.80 and a 12-month high of $15.05. The firm has a market cap of $876.27 million, a PE ratio of -1.66 and a beta of 1.71. The business has a 50 day moving average of $8.09 and a 200-day moving average of $7.79. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On Bumble

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in shares of Bumble in the 3rd quarter valued at about $911,000. Victory Capital Management Inc. raised its stake in Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after purchasing an additional 206,215 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Bumble during the second quarter valued at approximately $823,000. Susquehanna Fundamental Investments LLC purchased a new position in Bumble in the 2nd quarter worth approximately $1,716,000. Finally, Versor Investments LP bought a new position in shares of Bumble in the 2nd quarter worth $324,000. Institutional investors 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.