Bumble (NASDAQ:BMBL) Given New $10.00 Price Target at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) had its price objective increased by analysts at The Goldman Sachs Group from $9.00 to $10.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 20.48% from the stock’s current price.

BMBL has been the subject of several other reports. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. BTIG Research lowered shares of Bumble from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley dropped their price target on shares of Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Susquehanna cut shares of Bumble from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $6.00 in a research note on Friday, August 9th. Finally, Evercore ISI lowered Bumble from an “outperform” rating to an “inline” rating and reduced their price target for the company from $18.00 to $8.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.25.

Bumble Stock Performance

Shares of Bumble stock opened at $8.30 on Thursday. The company’s 50 day moving average price is $6.78 and its two-hundred day moving average price is $8.59. The firm has a market capitalization of $1.05 billion, a P/E ratio of -1.65 and a beta of 1.62. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 2.38. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.90.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Bumble in the 2nd quarter valued at about $24,121,000. The Manufacturers Life Insurance Company boosted its stake in shares of Bumble by 17.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock worth $21,468,000 after buying an additional 297,057 shares during the last quarter. Boston Partners grew its holdings in shares of Bumble by 2.0% in the first quarter. Boston Partners now owns 746,483 shares of the company’s stock valued at $8,348,000 after acquiring an additional 14,309 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Bumble by 13.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock valued at $7,434,000 after acquiring an additional 83,397 shares during the last quarter. 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.