JPMorgan Chase & Co. Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 17.14% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI dropped their price objective 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. Stifel Nicolaus decreased their target price on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday. Susquehanna upped their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Bumble has an average rating of “Hold” and an average price target of $8.18.

Bumble Price Performance

Shares of BMBL traded down $2.12 during trading hours on Wednesday, hitting $5.98. 12,284,655 shares of the stock were exchanged, compared to its average volume of 2,406,235. The stock’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $7.44. 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 company has a market cap of $646.48 million, a price-to-earnings ratio of -1.23 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in Bumble by 20.3% in the fourth 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. Franklin Resources Inc. grew its stake in shares of Bumble by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock valued at $521,000 after buying an additional 1,666 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Bumble by 1.4% in the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after buying an additional 2,157 shares during the period. JPMorgan Chase & Co. lifted its stake in Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Aigen Investment Management LP boosted its holdings in Bumble by 14.2% during the 4th quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock valued at $253,000 after acquiring an additional 3,853 shares during the period. 94.85% of the stock is currently 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.