JPMorgan Chase & Co. Cuts Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $8.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.14% from the stock’s current price.

BMBL has been the topic of a number of other reports. The Goldman Sachs Group increased their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus cut their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler decreased 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 upped their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bumble currently has a consensus rating of “Hold” and a consensus price target of $8.18.

Bumble Stock Performance

Shares of NASDAQ BMBL traded down $2.12 during midday trading on Wednesday, reaching $5.98. The company had a trading volume of 12,284,655 shares, compared to its average volume of 2,406,235. Bumble has a 1 year low of $4.80 and a 1 year high of $13.56. The business’s 50-day simple moving average is $8.03 and its 200 day simple moving average is $7.44. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $646.48 million, a P/E ratio of -1.23 and a beta of 1.70.

Institutional Trading of Bumble

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in shares of Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after buying an additional 1,249 shares during the period. Franklin Resources Inc. increased its holdings in Bumble by 2.7% in the 4th quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after acquiring an additional 1,666 shares in the last quarter. Rhumbline Advisers raised its position in Bumble by 1.4% during the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock worth $1,262,000 after acquiring an additional 2,157 shares during the period. JPMorgan Chase & Co. lifted its holdings in Bumble by 2.1% during 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 in the last quarter. Finally, Aigen Investment Management LP grew its position in shares of Bumble by 14.2% in the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock valued at $253,000 after purchasing an additional 3,853 shares during the period. 94.85% of the stock is owned by institutional investors and hedge funds.

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.