Brokerages Set Bumble Inc. (NASDAQ:BMBL) PT at $8.38

Shares of Bumble Inc. (NASDAQ:BMBL) have earned an average recommendation of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.38.

A number of analysts have recently weighed in on the company. Hsbc Global Res lowered Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Stifel Nicolaus raised their price objective 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. TD Cowen lowered shares of Bumble from a “buy” rating to a “hold” rating and reduced their target price for the stock from $22.00 to $7.50 in a research report on Friday, August 16th. Morgan Stanley lowered their price target on shares of Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

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

Bumble Trading Down 4.4 %

BMBL stock opened at $7.87 on Friday. The business has a fifty day moving average price of $6.94 and a 200 day moving average price of $8.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.38. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.90. The stock has a market capitalization of $851.38 million, a price-to-earnings ratio of -1.61 and a beta of 1.62.

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.