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

Bumble Inc. (NASDAQ:BMBL)’s stock price 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 traded hands 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 brokerages also recently commented on BMBL. TD Cowen downgraded shares of Bumble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $22.00 to $7.50 in a report on Friday, August 16th. JPMorgan Chase & Co. downgraded shares of Bumble from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $17.00 to $7.00 in a report on Thursday, August 8th. Wolfe Research assumed coverage on shares of Bumble in a report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price target for the company. BTIG Research cut shares of Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Citigroup lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.38.

Institutional Investors Weigh In On Bumble

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after purchasing an additional 613,759 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Bumble in the 1st quarter valued at about $937,000. Picton Mahoney Asset Management acquired a new stake in Bumble in the 1st quarter valued at about $1,378,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Bumble in the 1st quarter valued at about $831,000. Finally, Quantbot Technologies LP acquired a new stake in Bumble in the 1st quarter valued at about $558,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Up 9.7 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -1.81 and a beta of 1.62. The stock’s fifty day simple moving average is $6.82 and its two-hundred day simple moving average is $8.58.

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.