Citigroup Increases Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL - Get Free Report) had its price target boosted by analysts at Citigroup from $4.80 to $7.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price suggests a potential upside of 8.90% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on Bumble from $5.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Friday. Morgan Stanley cut their target price on Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group raised their price target on Bumble from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Susquehanna dropped their price target on Bumble from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, UBS Group upped their price objective on shares of Bumble from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. 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. Based on data from MarketBeat.com, Bumble presently has an average rating of "Hold" and an average price target of $6.97.

Bumble Stock Performance

NASDAQ:BMBL traded down $0.08 during mid-day trading on Friday, reaching $6.43. 703,518 shares of the company's stock were exchanged, compared to its average volume of 3,184,560. Bumble has a one year low of $3.55 and a one year high of $10.66. The firm has a market capitalization of $663.95 million, a PE ratio of -1.31, a price-to-earnings-growth ratio of 0.27 and a beta of 1.90. The business's fifty day simple moving average is $5.25 and its two-hundred day simple moving average is $6.04. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.83 and a current ratio of 2.83.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $247.10 million for the quarter, compared to analyst estimates of $246.68 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business's revenue for the quarter was down 7.7% on a year-over-year basis. Analysts anticipate that Bumble will post 4.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bumble

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in Bumble by 1.4% in the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company's stock valued at $1,262,000 after purchasing an additional 2,157 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Bumble by 11.2% during the fourth quarter. Principal Financial Group Inc. now owns 158,790 shares of the company's stock worth $1,293,000 after buying an additional 15,958 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Bumble during the fourth quarter worth $189,000. QRG Capital Management Inc. grew its stake in shares of Bumble by 14.2% during the fourth quarter. QRG Capital Management Inc. now owns 44,126 shares of the company's stock worth $359,000 after buying an additional 5,498 shares during the last quarter. Finally, Aigen Investment Management LP increased its holdings in shares of Bumble by 14.2% during the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company's stock worth $253,000 after buying an additional 3,853 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.