Analysts Set Bumble Inc. (NASDAQ:BMBL) Target Price at $8.05

Bumble Inc. (NASDAQ:BMBL) has received a consensus rating of “Hold” from the nineteen brokerages that are presently covering the stock, MarketBeat.com reports. 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. The average twelve-month target price among analysts that have covered the stock in the last year is $7.59.

Several equities research analysts have recently weighed in on BMBL shares. Wells Fargo & Company dropped their target price on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Susquehanna reduced their target price on Bumble from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Citigroup lowered their price target on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price objective on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th.

Bumble Stock Up 2.0 %

Shares of NASDAQ:BMBL opened at $5.20 on Friday. The firm has a market cap of $562.55 million, a PE ratio of -1.06 and a beta of 1.70. The company has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $7.36. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble has a 12-month low of $4.80 and a 12-month high of $12.49.

Institutional Investors Weigh In On Bumble

Several large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in Bumble by 25.5% in the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after buying an additional 1,298,630 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Bumble by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after acquiring an additional 22,136 shares during the period. RPD Fund Management LLC bought a new position in shares of Bumble in the fourth quarter worth $30,940,000. Geode Capital Management LLC increased its holdings in shares of Bumble by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after purchasing an additional 14,889 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Bumble by 3.5% during the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock valued at $7,733,000 after purchasing an additional 32,353 shares in the last quarter. 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.