Bumble Inc. (NASDAQ:BMBL) Given Consensus Recommendation of “Hold” by Brokerages

Bumble Inc. (NASDAQ:BMBL) has been given an average rating of “Hold” by the eighteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $8.38.

Several research firms have recently commented on BMBL. Morgan Stanley reduced their price objective on Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group lifted their price target on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada lowered their price objective on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Stifel Nicolaus boosted their target price on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after purchasing an additional 613,759 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Bumble in the first quarter valued at about $937,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Bumble during the first quarter worth about $831,000. Edgestream Partners L.P. bought a new position in Bumble during the first quarter worth about $4,563,000. Finally, SG Americas Securities LLC raised its stake in shares of Bumble by 94.9% in the first quarter. SG Americas Securities LLC now owns 45,482 shares of the company’s stock valued at $516,000 after acquiring an additional 22,146 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Stock Performance

BMBL stock opened at $8.23 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of -1.68 and a beta of 1.62. Bumble has a 12-month low of $4.80 and a 12-month high of $15.90. The company has a current ratio of 2.09, a quick ratio of 2.38 and a debt-to-equity ratio of 0.75. The stock’s 50 day simple moving average is $6.89 and its 200 day simple moving average is $8.56.

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.