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

Shares of Bumble Inc. (NASDAQ:BMBL) have earned a consensus rating of “Hold” from the eighteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.50.

Several brokerages have recently issued reports on BMBL. Morgan Stanley upped their target price on shares of Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. 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. Finally, Susquehanna lifted their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th.

Institutional Investors Weigh In On Bumble

Several hedge funds have recently modified their holdings of BMBL. Rhumbline Advisers boosted its holdings in shares of Bumble by 1.4% in the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after buying an additional 2,157 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after purchasing an additional 2,760 shares during the last quarter. nVerses Capital LLC increased its position in shares of Bumble by 47.9% during the third quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock worth $114,000 after purchasing an additional 5,800 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after purchasing an additional 6,325 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Bumble in the 4th quarter worth $56,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

NASDAQ:BMBL opened at $8.11 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market cap of $877.36 million, a price-to-earnings ratio of -1.66 and a beta of 1.70. Bumble has a 1 year low of $4.80 and a 1 year high of $14.30. The stock’s 50 day simple moving average is $8.10 and its two-hundred day simple moving average is $7.53.

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.