Bumble (NASDAQ:BMBL) Price Target Raised to $8.00

Bumble (NASDAQ:BMBL) had its price objective upped by research analysts at Susquehanna from $6.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price objective points to a potential downside of 6.87% from the company’s previous close.

Other research analysts have also issued reports about the stock. TD Cowen lowered shares of Bumble from a “buy” rating to a “hold” rating and dropped their price target for the company from $22.00 to $7.50 in a research report on Friday, August 16th. Morgan Stanley cut their target price on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Citigroup upped their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Hsbc Global Res downgraded shares of Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.38.

Bumble Trading Down 2.9 %

Shares of Bumble stock opened at $8.59 on Monday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $6.82 and a 200 day simple moving average of $8.58. Bumble has a 12-month low of $4.80 and a 12-month high of $15.90. The company has a market capitalization of $1.09 billion, a P/E ratio of -1.79 and a beta of 1.62.

Institutional Investors Weigh In On Bumble

Institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new stake in Bumble during the 1st quarter worth about $937,000. Quantbot Technologies LP bought a new position in shares of Bumble in the first quarter valued at approximately $558,000. SG Americas Securities LLC grew its stake in Bumble by 94.9% during the first quarter. SG Americas Securities LLC now owns 45,482 shares of the company’s stock valued at $516,000 after acquiring an additional 22,146 shares in the last quarter. ProShare Advisors LLC increased its holdings in Bumble by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after acquiring an additional 1,430 shares during the period. Finally, Entropy Technologies LP purchased a new stake in Bumble in the 1st quarter worth approximately $175,000. 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.