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

Bumble Inc. (NASDAQ:BMBL) has been given a consensus recommendation of “Hold” by the nineteen ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $7.25.

BMBL has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus lowered their price target on Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley reduced their price objective on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Piper Sandler lowered their target price on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group cut their target price on shares of Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 17th.

Institutional Investors Weigh In On Bumble

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new position in shares of Bumble during the 3rd quarter worth about $911,000. Victory Capital Management Inc. lifted its stake in Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares during the period. Factorial Partners LLC bought a new position in Bumble during the third quarter worth about $185,000. Intech Investment Management LLC acquired a new stake in Bumble during the third quarter valued at approximately $203,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Bumble in the 3rd quarter valued at approximately $77,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Up 5.7 %

Shares of NASDAQ:BMBL opened at $4.79 on Thursday. Bumble has a 1 year low of $4.46 and a 1 year high of $12.49. The firm has a fifty day moving average price of $6.59 and a 200 day moving average price of $7.17. 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 capitalization of $505.57 million, a PE ratio of -0.98 and a beta of 1.77.

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.