Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) gapped down prior to trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $8.00 to $7.00. The stock had previously closed at $8.10, but opened at $6.59. Wells Fargo & Company currently has an equal weight rating on the stock. Bumble shares last traded at $6.24, with a volume of 2,907,937 shares trading hands.
BMBL has been the topic of a number of other research reports. Wolfe Research lowered Bumble from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Piper Sandler dropped their price objective on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday. Susquehanna boosted their target price on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. Stifel Nicolaus reduced their price objective on shares of Bumble from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, Morgan Stanley lifted 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Bumble currently has an average rating of "Hold" and an average target price of $8.30.
Read Our Latest Analysis on BMBL
Hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Bumble by 25.5% during the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company's stock worth $51,953,000 after buying an additional 1,298,630 shares during the period. Dimensional Fund Advisors LP grew its holdings in Bumble by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company's stock valued at $32,279,000 after purchasing an additional 22,136 shares during the last quarter. RPD Fund Management LLC purchased a new position in Bumble during the 4th quarter valued at about $30,940,000. Geode Capital Management LLC raised its position in Bumble by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company's stock worth $14,872,000 after acquiring an additional 14,889 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Bumble by 3.5% in the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company's stock valued at $7,733,000 after purchasing an additional 32,353 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.
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 firm's 50-day moving average price is $8.03 and its 200 day moving average price is $7.44. The firm has a market capitalization of $648.00 million, a price-to-earnings ratio of -1.29 and a beta of 1.70.
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.
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