Bumble (NASDAQ:BMBL) Given New $7.00 Price Target at Wells Fargo & Company

Bumble (NASDAQ:BMBL - Get Free Report) had its price target increased by investment analysts at Wells Fargo & Company from $5.00 to $7.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 7.28% from the stock's current price.

Several other brokerages have also weighed in on BMBL. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $5.00 price objective on shares of Bumble in a research report on Tuesday, June 3rd. Royal Bank Of Canada reissued an "outperform" rating and set a $7.00 price objective (up from $5.00) on shares of Bumble in a research report on Thursday. Citigroup decreased their target price on shares of Bumble from $6.80 to $4.80 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Morgan Stanley reduced their price target on shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group lifted their price objective on Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bumble has an average rating of "Hold" and a consensus price target of $6.83.

Bumble Price Performance

Bumble stock traded up $0.02 during trading on Friday, reaching $6.53. The company had a trading volume of 339,234 shares, compared to its average volume of 3,183,210. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.83 and a current ratio of 2.83. The firm's 50-day simple moving average is $5.25 and its 200 day simple moving average is $6.04. The firm has a market capitalization of $673.97 million, a PE ratio of -1.33, a price-to-earnings-growth ratio of 0.27 and a beta of 1.90. Bumble has a 1-year low of $3.55 and a 1-year high of $10.66.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. The firm had revenue of $247.10 million for the quarter, compared to analysts' expectations of $246.68 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Bumble will post 4.19 earnings per share for the current fiscal year.

Institutional Trading of Bumble

Several large investors have recently modified their holdings of BMBL. Strs Ohio bought a new position in Bumble during the first quarter worth $488,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bumble in the 1st quarter worth approximately $117,000. PDT Partners LLC grew its holdings in shares of Bumble by 242.6% in the 1st quarter. PDT Partners LLC now owns 743,743 shares of the company's stock worth $3,228,000 after acquiring an additional 526,629 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Bumble by 409.3% in the 1st quarter. Royal Bank of Canada now owns 325,121 shares of the company's stock valued at $1,410,000 after acquiring an additional 261,281 shares in the last quarter. Finally, Vident Advisory LLC acquired a new stake in shares of Bumble in the first quarter worth $48,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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