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

Bumble (NASDAQ:BMBL) had its price target lifted by Citigroup from $6.00 to $8.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on BMBL. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus lowered shares of Bumble from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $13.00 to $6.50 in a research note on Thursday, August 8th. Wolfe Research initiated coverage on shares of Bumble in a research note on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and set a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One investment 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’s stock. According to MarketBeat.com, Bumble presently has a consensus rating of “Hold” and an average target price of $8.25.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $8.07 on Thursday. Bumble has a 1 year low of $4.80 and a 1 year high of $15.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 2.38. The company’s 50-day moving average is $6.78 and its 200 day moving average is $8.59. The stock has a market capitalization of $1.02 billion, a P/E ratio of -1.65 and a beta of 1.62.

Institutional Trading of Bumble

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC bought a new position in shares of Bumble during the third quarter worth $203,000. Factorial Partners LLC bought a new position in shares of Bumble during the third quarter worth $185,000. Victory Capital Management Inc. boosted its position in shares of Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after acquiring an additional 206,215 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Bumble during the third quarter worth $173,000. Finally, Entropy Technologies LP bought a new position in shares of Bumble during the third quarter worth $187,000. 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.