Susquehanna Cuts Bumble (NASDAQ:BMBL) Price Target to $5.00

Bumble (NASDAQ:BMBL) had its target price decreased by Susquehanna from $6.00 to $5.00 in a report released on Friday morning,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group upped their price target 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. Stifel Nicolaus reduced their price objective on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada dropped their target price on Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup reduced their price target on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.52.

Bumble Price Performance

Shares of BMBL opened at $5.08 on Friday. The business’s 50-day moving average is $7.28 and its 200-day moving average is $7.32. 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 company has a market capitalization of $549.56 million, a price-to-earnings ratio of -1.04 and a beta of 1.77. Bumble has a fifty-two week low of $4.58 and a fifty-two week high of $12.49.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in Bumble during the fourth quarter valued at about $56,000. Tower Research Capital LLC TRC lifted its position in shares of Bumble by 20.3% during the 4th 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 during the last quarter. Canada Pension Plan Investment Board grew its holdings in Bumble by 56.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after buying an additional 4,000 shares during the last quarter. Corient Private Wealth LLC bought a new position in Bumble in the 4th quarter worth approximately $97,000. Finally, Wexford Capital LP bought a new position in Bumble in the 4th quarter worth approximately $98,000. 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.