Wolfe Research Downgrades Bumble (NASDAQ:BMBL) to Peer Perform

Wolfe Research downgraded shares of Bumble (NASDAQ:BMBL) from an outperform rating to a peer perform rating in a research note issued to investors on Friday morning, MarketBeat.com reports.

BMBL has been the topic of several other research reports. Susquehanna lifted their target price on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group boosted their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup increased their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.38.

Bumble Stock Performance

Shares of Bumble stock opened at $8.10 on Friday. Bumble has a 12 month low of $4.80 and a 12 month high of $15.05. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $876.27 million, a PE ratio of -1.66 and a beta of 1.71. The business has a fifty day simple moving average of $8.09 and a 200-day simple moving average of $7.78.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after purchasing an additional 2,760 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Bumble in the 3rd quarter valued at approximately $911,000. Franklin Resources Inc. increased its position in Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after buying an additional 6,325 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 14,889 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of Bumble in the third quarter valued at approximately $90,000. Institutional investors 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.