Bumble (NASDAQ:BMBL) Shares Gap Down – What’s Next?

Bumble Inc. (NASDAQ:BMBL) shares gapped down before the market opened on Friday . The stock had previously closed at $7.97, but opened at $7.56. Bumble shares last traded at $8.02, with a volume of 174,580 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BMBL shares. Susquehanna boosted their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Citigroup upped their target price on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday. Stifel Nicolaus raised their target price on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.38.

Bumble Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market capitalization of $876.27 million, a P/E ratio of -1.66 and a beta of 1.71. The stock has a fifty day moving average price of $8.09 and a 200 day moving average price of $7.79.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after buying an additional 2,760 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Bumble in the 3rd quarter worth approximately $911,000. Franklin Resources Inc. boosted its holdings in Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after purchasing an additional 6,325 shares during the period. Geode Capital Management LLC grew its position in shares of Bumble by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after purchasing an additional 14,889 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of Bumble in the third quarter worth $90,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.