Bumble (NASDAQ:BMBL) Stock Price Down 5.3% on Analyst Downgrade

Bumble Inc. (NASDAQ:BMBL) shares fell 5.3% on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $10.00 to $8.00. The Goldman Sachs Group currently has a buy rating on the stock. Bumble traded as low as $4.74 and last traded at $4.75. 383,231 shares changed hands during trading, a decline of 87% from the average session volume of 2,987,601 shares. The stock had previously closed at $5.01.

Several other brokerages also recently weighed in on BMBL. Morgan Stanley cut their target price on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Susquehanna lowered their price target on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Piper Sandler lowered their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Empowered Funds LLC acquired a new position in shares of Bumble in the 4th quarter valued at $187,000. Principal Financial Group Inc. acquired a new stake in Bumble during the 3rd quarter worth $911,000. Victory Capital Management Inc. boosted its stake in Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares during the period. JPMorgan Chase & Co. boosted its stake in Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after purchasing an additional 2,760 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Bumble during the 4th quarter worth $189,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Performance

The stock has a market cap of $495.01 million, a price-to-earnings ratio of -0.96 and a beta of 1.77. The stock’s 50 day moving average is $6.76 and its two-hundred day moving average is $7.21. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

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.