Brokerages Set Bumble Inc. (NASDAQ:BMBL) Target Price at $7.12

Bumble Inc. (NASDAQ:BMBL - Get Free Report) has received a consensus rating of "Hold" from the eighteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.09.

A number of brokerages have commented on BMBL. Piper Sandler dropped their price objective 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. JPMorgan Chase & Co. reduced their price objective on Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on Bumble from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on Bumble from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada lowered their price target on Bumble from $8.00 to $7.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th.

Bumble Price Performance

Shares of NASDAQ BMBL traded up $0.35 during midday trading on Monday, reaching $4.36. 2,296,831 shares of the stock traded hands, compared to its average volume of 3,123,163. The company's 50 day moving average is $4.98 and its 200 day moving average is $6.84. Bumble has a one year low of $3.55 and a one year high of $12.49. The stock has a market capitalization of $460.18 million, a PE ratio of -0.89 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. RPD Fund Management LLC bought a new position in shares of Bumble during the fourth quarter valued at approximately $30,940,000. Ameriprise Financial Inc. increased 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 valued at $51,953,000 after acquiring an additional 1,298,630 shares in the last quarter. RBF Capital LLC purchased a new position in shares of Bumble in the 4th quarter valued at approximately $5,157,000. First Trust Advisors LP grew its position in Bumble by 429.5% during the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company's stock worth $6,287,000 after purchasing an additional 626,528 shares during the last quarter. Finally, Barclays PLC increased its stake in Bumble by 202.9% during the 4th quarter. Barclays PLC now owns 553,186 shares of the company's stock valued at $4,503,000 after purchasing an additional 370,568 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

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.