Brokerages Set Bumble Inc. (NASDAQ:BMBL) Price Target at $8.38

Bumble Inc. (NASDAQ:BMBL) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $8.38.

Several research firms recently weighed in on BMBL. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Citigroup lifted their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Bumble

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of Bumble during the second quarter valued at about $24,121,000. The Manufacturers Life Insurance Company increased its holdings in shares of Bumble by 17.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after acquiring an additional 297,057 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares during the period. AXA S.A. raised its position in shares of Bumble by 1,589.8% during the second quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after purchasing an additional 179,757 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Bumble in the 2nd quarter worth $1,716,000. 94.85% of the stock is currently owned by institutional investors.

Bumble Stock Performance

Shares of Bumble stock opened at $8.32 on Tuesday. The company’s 50 day moving average price is $7.77 and its two-hundred day moving average price is $8.12. The firm has a market capitalization of $900.07 million, a P/E ratio of -1.70 and a beta of 1.71. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.90. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

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.