Bumble Inc. (NASDAQ:BMBL) Receives Consensus Rating of “Hold” from Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have been assigned a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.25.

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Bumble from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday. Susquehanna reduced their target price on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reduced their target price on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley reduced their price target on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th.

Bumble Stock Performance

NASDAQ BMBL opened at $4.69 on Thursday. Bumble has a 1 year low of $4.57 and a 1 year high of $12.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $495.01 million, a price-to-earnings ratio of -0.96 and a beta of 1.77. The company has a fifty day moving average price of $6.76 and a 200-day moving average price of $7.21.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently modified their holdings of BMBL. Principal Financial Group Inc. purchased a new stake in Bumble in the third quarter valued at approximately $911,000. Victory Capital Management Inc. raised its stake in Bumble by 470.7% in the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after purchasing an additional 206,215 shares in the last quarter. Factorial Partners LLC purchased a new stake in Bumble in the third quarter valued at approximately $185,000. Intech Investment Management LLC purchased a new stake in Bumble in the third quarter valued at approximately $203,000. Finally, D.A. Davidson & CO. purchased a new stake in Bumble in the third quarter valued at approximately $77,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.