Bumble Inc. (NASDAQ:BMBL) Receives $7.25 Average PT from Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have received an average recommendation of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $7.25.

Several equities research analysts have issued reports on BMBL shares. Susquehanna lowered their price target on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company lowered their target price on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Citigroup dropped their price target on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Evercore ISI decreased their price objective on Bumble from $8.00 to $7.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Piper Sandler dropped their target price on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th.

Institutional Investors Weigh In On Bumble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Bumble by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after buying an additional 22,136 shares in the last quarter. RPD Fund Management LLC bought a new position in Bumble in the 4th quarter valued at $30,940,000. Geode Capital Management LLC increased its stake in shares of Bumble by 0.6% in the 3rd 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 raised its position in shares of 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 acquiring an additional 32,353 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Performance

BMBL opened at $4.64 on Thursday. The stock’s 50 day simple moving average is $6.47 and its 200-day simple moving average is $7.14. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market cap of $489.73 million, a PE ratio of -0.95 and a beta of 1.77. Bumble has a 1 year low of $4.46 and a 1 year high of $12.49.

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.