Brokerages Set Bumble Inc. (NASDAQ:BMBL) Target Price at $7.25

Bumble Inc. (NASDAQ:BMBL) has earned an average rating of “Hold” from the nineteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.25.

BMBL has been the topic of a number of recent analyst reports. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Stifel Nicolaus reduced their target price on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group dropped their price target on Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 17th. Royal Bank of Canada reduced their price objective on Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Citigroup lowered their target price on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research note on Wednesday, February 19th.

Bumble Stock Up 5.7 %

Shares of NASDAQ:BMBL opened at $4.79 on Thursday. The company’s fifty day moving average is $6.59 and its 200-day moving average is $7.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. Bumble has a 52 week low of $4.46 and a 52 week high of $12.49. The company has a market capitalization of $505.57 million, a PE ratio of -0.98 and a beta of 1.77.

Hedge Funds Weigh In On Bumble

Several large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after acquiring an additional 1,298,630 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Bumble by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after purchasing an additional 22,136 shares during the period. RPD Fund Management LLC bought a new stake in Bumble in the fourth quarter valued at about $30,940,000. Geode Capital Management LLC lifted its stake in Bumble by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after buying an additional 14,889 shares during the period. Finally, Northern Trust Corp boosted its holdings in Bumble by 3.5% during the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after buying an additional 32,353 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.