Analysts Set Bumble Inc. (NASDAQ:BMBL) Price Target at $8.50

Bumble Inc. (NASDAQ:BMBL) has been given a consensus recommendation of “Hold” by the eighteen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.50.

A number of analysts recently weighed in on the stock. Citigroup increased their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Susquehanna boosted their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd.

Bumble Price Performance

BMBL stock opened at $8.11 on Wednesday. The company has a market capitalization of $877.34 million, a PE ratio of -1.66 and a beta of 1.70. Bumble has a 12-month low of $4.80 and a 12-month high of $14.30. 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 business’s fifty day moving average price is $8.10 and its 200 day moving average price is $7.50.

Hedge Funds Weigh In On Bumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position 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 buying an additional 297,057 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Bumble by 470.7% in 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. grew its holdings 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 in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Bumble during the second quarter valued at about $1,716,000. Finally, Principal Financial Group Inc. bought a new position in Bumble during the third quarter valued at approximately $911,000. Institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

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.