Wells Fargo & Company Increases Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL - Free Report) had its target price boosted by Wells Fargo & Company from $5.00 to $7.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on BMBL. Royal Bank Of Canada reaffirmed 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 price target on Bumble from $6.80 to $4.80 and set a "neutral" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group increased their price objective on Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley decreased their target price on Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price target on shares of Bumble from $6.00 to $4.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.97.

Bumble Trading Up 2.2%

Shares of NASDAQ:BMBL traded up $0.14 during midday trading on Friday, reaching $6.59. 2,449,514 shares of the company's stock were exchanged, compared to its average volume of 3,202,460. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market cap of $680.68 million, a price-to-earnings ratio of -1.35, a P/E/G ratio of 0.25 and a beta of 1.89. The firm's 50 day simple moving average is $5.29 and its two-hundred day simple moving average is $5.99. Bumble has a fifty-two week low of $3.55 and a fifty-two week high of $10.66.

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

Institutional Trading of Bumble

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pale Fire Capital SE acquired a new stake in Bumble during the first quarter worth $43,000. Vident Advisory LLC acquired a new position in Bumble during the first quarter worth $48,000. Teacher Retirement System of Texas acquired a new stake in shares of Bumble in the 1st quarter valued at $49,000. Tyche Wealth Partners LLC bought a new stake in shares of Bumble in the 1st quarter worth about $52,000. Finally, Kestra Private Wealth Services LLC bought a new position in Bumble during the 1st quarter valued at about $54,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.