Bumble (NASDAQ:BMBL) Price Target Lowered to $4.80 at Citigroup

Bumble (NASDAQ:BMBL - Free Report) had its target price lowered by Citigroup from $6.80 to $4.80 in a report published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other analysts also recently commented on BMBL. The Goldman Sachs Group reduced their target price on Bumble from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Piper Sandler reduced their target price on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Wolfe Research downgraded Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Royal Bank of Canada reduced their target price on Bumble from $8.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Finally, Susquehanna reduced their target price on Bumble from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $6.82.

Bumble Trading Down 2.6 %

Bumble stock traded down $0.11 during trading hours on Friday, reaching $4.17. 989,038 shares of the company's stock were exchanged, compared to its average volume of 3,099,349. 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 firm's 50 day simple moving average is $4.53 and its 200 day simple moving average is $6.74. Bumble has a twelve month low of $3.55 and a twelve month high of $12.49. The firm has a market capitalization of $440.13 million, a PE ratio of -0.85 and a beta of 1.77.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BMBL. Teacher Retirement System of Texas bought a new position in Bumble in the 1st quarter valued at $49,000. Tyche Wealth Partners LLC bought a new position in Bumble in the 1st quarter valued at $52,000. FNY Investment Advisers LLC bought a new position in Bumble in the 4th quarter valued at $56,000. Tower Research Capital LLC TRC grew its stake in Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock valued at $60,000 after purchasing an additional 1,249 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in Bumble in the 1st quarter valued at $72,000. Institutional investors own 94.85% of the company's stock.

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.