Bumble (NASDAQ:BMBL) Trading 8.2% Higher After Analyst Upgrade

Shares of Bumble Inc. (NASDAQ:BMBL) shot up 8.2% on Monday after Susquehanna raised their price target on the stock from $6.00 to $8.00. Susquehanna currently has a neutral rating on the stock. Bumble traded as high as $8.73 and last traded at $8.73. 509,921 shares were traded during trading, a decline of 84% from the average session volume of 3,118,904 shares. The stock had previously closed at $8.07.

A number of other analysts have also recently commented on BMBL. Bank of America cut Bumble from a “buy” rating to an “underperform” rating and lowered their price target for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. TD Cowen lowered shares of Bumble from a “buy” rating to a “hold” rating and decreased their price target for the company from $22.00 to $7.50 in a report on Friday, August 16th. Evercore ISI cut shares of Bumble from an “outperform” rating to an “inline” rating and lowered their price objective for the company from $18.00 to $8.00 in a research report on Thursday, August 8th. Royal Bank of Canada decreased their price objective on Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut Bumble from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $7.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.38.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in shares of Bumble during the 2nd quarter worth approximately $64,000. Meeder Asset Management Inc. acquired a new stake in Bumble in the second quarter valued at $82,000. Headlands Technologies LLC bought a new position in shares of Bumble in the 2nd quarter valued at about $94,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bumble during the 2nd quarter worth about $111,000. Finally, SG Americas Securities LLC acquired a new position in shares of Bumble during the 3rd quarter worth about $71,000. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Stock Performance

The company has a market capitalization of $1.09 billion, a P/E ratio of -1.79 and a beta of 1.62. The stock’s fifty day moving average price is $6.82 and its 200-day moving average price is $8.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38.

Bumble Company Profile

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.