Bumble Inc. (NASDAQ:BMBL) Receives $8.38 Average Target Price from Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have received a consensus rating of “Hold” from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.38.

BMBL has been the topic of several research reports. KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Citigroup raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday. Piper Sandler reissued a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th.

Bumble Price Performance

NASDAQ:BMBL opened at $8.23 on Friday. 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 firm has a fifty day simple moving average of $8.11 and a 200 day simple moving average of $7.76. Bumble has a 1-year low of $4.80 and a 1-year high of $15.05. The stock has a market capitalization of $890.34 million, a PE ratio of -1.68 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

Hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP bought a new position in shares of Bumble during the 2nd quarter worth approximately $324,000. Victory Capital Management Inc. boosted its position in Bumble by 20.6% in the second quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock worth $460,000 after purchasing an additional 7,475 shares during the last quarter. Quest Partners LLC increased 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 purchasing an additional 16,592 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Bumble during the 2nd quarter valued at $94,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Bumble in the 2nd quarter worth about $82,000. 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.