Bumble Inc. (NASDAQ:BMBL) Receives $7.12 Consensus PT from Analysts

Bumble Inc. (NASDAQ:BMBL) has received a consensus recommendation of “Hold” from the eighteen analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.09.

Several research firms recently commented on BMBL. Stifel Nicolaus dropped 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. Susquehanna dropped their price objective on Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Royal Bank of Canada cut their target price on Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Citigroup lowered their price target on Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price target on shares of Bumble from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th.

Hedge Funds Weigh In On Bumble

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. RPD Fund Management LLC purchased a new position in shares of Bumble in the 4th quarter valued at approximately $30,940,000. Ameriprise Financial Inc. lifted its holdings in shares of Bumble by 25.5% during the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after purchasing an additional 1,298,630 shares during the period. RBF Capital LLC acquired a new stake in shares of Bumble during the fourth quarter worth $5,157,000. First Trust Advisors LP increased its stake in Bumble by 429.5% in the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock valued at $6,287,000 after buying an additional 626,528 shares during the period. Finally, Barclays PLC raised its position in Bumble by 202.9% during the 4th quarter. Barclays PLC now owns 553,186 shares of the company’s stock worth $4,503,000 after buying an additional 370,568 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Trading Up 8.7 %

Shares of NASDAQ:BMBL opened at $4.36 on Monday. Bumble has a 52 week low of $3.55 and a 52 week high of $12.49. The company’s 50 day moving average is $4.98 and its two-hundred day moving average is $6.84. The company has a market cap of $460.18 million, a PE ratio of -0.89 and a beta of 1.77. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

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.