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

Shares of Bumble Inc. (NASDAQ:BMBL) have earned a consensus recommendation of “Hold” from the nineteen brokerages that are presently covering the company, MarketBeat 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 price target among brokerages that have updated their coverage on the stock in the last year is $7.25.

A number of brokerages have issued reports on BMBL. Piper Sandler decreased their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Stifel Nicolaus dropped their target price on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered their price target on Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 17th.

Hedge Funds Weigh In On Bumble

Several large investors have recently made changes to their positions in BMBL. FNY Investment Advisers LLC bought a new position in Bumble in the 4th quarter worth approximately $56,000. Tower Research Capital LLC TRC increased its position in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after acquiring an additional 1,249 shares during the period. D.A. Davidson & CO. acquired a new position in Bumble during the 3rd quarter valued at $77,000. Quantinno Capital Management LP bought a new stake in Bumble in the 3rd quarter valued at $90,000. Finally, Canada Pension Plan Investment Board grew its position in Bumble by 56.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock worth $90,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Performance

BMBL stock opened at $4.64 on Thursday. The firm has a 50 day simple moving average of $6.47 and a 200 day simple moving average of $7.14. Bumble has a 52 week low of $4.46 and a 52 week high of $12.49. The stock has a market cap of $489.73 million, a P/E ratio of -0.95 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

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.