Bumble (NASDAQ:BMBL) Given New $5.00 Price Target at Wells Fargo & Company

Bumble (NASDAQ:BMBL) had its price objective reduced by Wells Fargo & Company from $7.00 to $5.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley dropped their price target on Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada cut their price target on Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna cut their price objective on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Evercore ISI reduced their target price on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.12.

Bumble Stock Performance

Bumble stock traded down $0.34 during midday trading on Wednesday, hitting $3.82. 690,056 shares of the company’s stock were exchanged, compared to its average volume of 3,110,973. 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 has a market cap of $403.61 million, a price-to-earnings ratio of -0.78 and a beta of 1.77. Bumble has a 12-month low of $3.55 and a 12-month high of $12.49. The firm’s 50 day simple moving average is $5.58 and its 200 day simple moving average is $6.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in shares of Bumble in the fourth quarter valued at about $187,000. Principal Financial Group Inc. acquired a new stake in Bumble during the 3rd quarter valued at $911,000. JPMorgan Chase & Co. increased its position in Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after buying an additional 2,760 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Bumble in the fourth quarter worth $189,000. Finally, Franklin Resources Inc. lifted its position in shares of Bumble by 11.3% in the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after acquiring an additional 6,325 shares in the last quarter. Institutional investors and hedge funds 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.