Bumble (NASDAQ:BMBL) Shares Up 9.8% – What’s Next?

Shares of Bumble Inc. (NASDAQ:BMBL) were up 9.8% on Monday . The company traded as high as $9.04 and last traded at $8.98. Approximately 552,182 shares were traded during trading, a decline of 82% from the average daily volume of 3,074,187 shares. The stock had previously closed at $8.18.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America downgraded shares of Bumble from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $12.00 to $5.50 in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price target on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus raised their target price on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Finally, Hsbc Global Res cut Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.38.

Bumble Trading Down 0.9 %

The company has a 50 day moving average of $7.20 and a 200-day moving average of $8.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

Institutional Investors Weigh In On Bumble

Several institutional investors and hedge funds have recently bought and sold shares of BMBL. ProShare Advisors LLC raised its position in shares of Bumble by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after purchasing an additional 1,430 shares during the period. Vanguard Group Inc. lifted its stake in Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after buying an additional 613,759 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Bumble by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,626 shares of the company’s stock worth $734,000 after acquiring an additional 3,683 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Bumble by 300.0% in the 1st quarter. Janus Henderson Group PLC now owns 163,332 shares of the company’s stock worth $1,854,000 after acquiring an additional 122,504 shares during the period. Finally, Boston Partners increased its holdings in shares of Bumble by 2.0% in the 1st quarter. Boston Partners now owns 746,483 shares of the company’s stock worth $8,348,000 after acquiring an additional 14,309 shares during the period. Institutional investors and hedge funds 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.