Analysts Set Bumble Inc. (NASDAQ:BMBL) Target Price at $8.38

Shares of Bumble Inc. (NASDAQ:BMBL) have received an average recommendation of “Hold” from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. One 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. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $8.38.

BMBL has been the subject of several analyst reports. Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday. Susquehanna boosted their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Piper Sandler restated a “neutral” rating and issued a $8.00 target price (up previously from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Citigroup upped their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Hedge Funds Weigh In On Bumble

A number of large investors have recently bought and sold shares of BMBL. JPMorgan Chase & Co. raised its position in Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after purchasing an additional 2,760 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Bumble in the third quarter valued at $911,000. Franklin Resources Inc. raised its holdings in Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after purchasing an additional 6,325 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bumble by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock worth $14,872,000 after purchasing an additional 14,889 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of Bumble during the 3rd quarter valued at about $90,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Trading Up 1.6 %

Shares of BMBL opened at $8.23 on Friday. The firm has a market cap of $890.34 million, a P/E ratio of -1.68 and a beta of 1.70. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The business has a 50-day moving average of $8.11 and a 200 day moving average of $7.76.

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.