Bumble Inc. (NASDAQ:BMBL) Receives $8.38 Consensus Price Target from Brokerages

Bumble Inc. (NASDAQ:BMBL) has been given a consensus rating of “Hold” by the eighteen research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $8.38.

Several research firms have recently commented on BMBL. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Stifel Nicolaus lifted their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Susquehanna upped their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BMBL. Versor Investments LP purchased a new stake in Bumble during the second quarter valued at $324,000. Victory Capital Management Inc. increased its holdings in shares of Bumble by 20.6% in the 2nd quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock worth $460,000 after buying an additional 7,475 shares during the last quarter. Quest Partners LLC raised its position in shares of Bumble by 46.3% during the 2nd quarter. Quest Partners LLC now owns 52,453 shares of the company’s stock valued at $551,000 after buying an additional 16,592 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Bumble in the 2nd quarter valued at about $94,000. Finally, Meeder Asset Management Inc. bought a new stake in Bumble during the second quarter worth approximately $82,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Price Performance

Shares of Bumble stock opened at $7.56 on Friday. The stock has a market cap of $817.86 million, a P/E ratio of -1.55 and a beta of 1.70. 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 stock’s fifty day moving average is $8.14 and its 200 day moving average is $7.74. Bumble has a one year low of $4.80 and a one year high of $15.05.

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.