Bumble (NASDAQ:BMBL) Price Target Cut to $7.00 by Analysts at Royal Bank of Canada

Bumble (NASDAQ:BMBL) had its target price cut by analysts at Royal Bank of Canada from $8.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 19.13% from the company’s current price.

Other equities analysts also recently issued reports about the company. Evercore ISI cut their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a report on Wednesday. Susquehanna increased their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Morgan Stanley lifted their target price on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group upped their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.18.

Bumble Trading Down 27.5 %

Bumble stock traded down $2.22 during trading on Wednesday, reaching $5.88. The company had a trading volume of 10,770,331 shares, compared to its average volume of 2,373,894. Bumble has a 12-month low of $4.80 and a 12-month high of $13.56. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The stock’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $7.44. The firm has a market capitalization of $635.67 million, a price-to-earnings ratio of -1.20 and a beta of 1.70.

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 shares of Bumble during the 4th quarter worth about $56,000. Tower Research Capital LLC TRC raised its holdings in shares of Bumble by 20.3% in 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 in the last quarter. Canada Pension Plan Investment Board lifted its stake in Bumble by 56.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after purchasing an additional 4,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in Bumble during the third quarter worth approximately $71,000. Finally, Capital Management Associates Inc acquired a new position in Bumble in the third quarter worth approximately $74,000. 94.85% of the stock is owned by institutional investors and hedge funds.

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.