Brokerages Set Bumble Inc. (NASDAQ:BMBL) Price Target at $7.25

Shares of Bumble Inc. (NASDAQ:BMBL) have earned an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $7.25.

A number of research firms recently weighed in on BMBL. Susquehanna decreased their price objective on Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup reduced their target price on Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus lowered their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley reduced their price objective on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th.

Institutional Investors Weigh In On Bumble

A number of hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares during the period. Franklin Resources Inc. lifted its stake in shares of Bumble by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock valued at $521,000 after buying an additional 1,666 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Bumble by 1.4% during the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after buying an additional 2,157 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Aigen Investment Management LP raised its holdings in shares of Bumble by 14.2% in the 4th quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock worth $253,000 after acquiring an additional 3,853 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Down 1.9 %

Shares of NASDAQ BMBL opened at $4.53 on Thursday. The firm has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $7.18. The stock has a market cap of $478.12 million, a P/E ratio of -0.93 and a beta of 1.77. Bumble has a 52-week low of $4.46 and a 52-week high of $12.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

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.