Bumble (NASDAQ:BMBL) Given New $18.00 Price Target at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) had its price target upped by The Goldman Sachs Group from $15.00 to $18.00 in a research note issued to investors on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts have also recently weighed in on BMBL. Evercore ISI lifted their price objective on shares of Bumble from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bumble from $15.00 to $13.00 and set a hold rating for the company in a research note on Thursday, May 9th. Wells Fargo & Company cut shares of Bumble from an overweight rating to an equal weight rating and dropped their price objective for the stock from $15.00 to $10.00 in a research note on Monday, July 8th. Bank of America upgraded shares of Bumble from a neutral rating to a buy rating and set a $14.00 price objective for the company in a research note on Friday, May 10th. Finally, Citigroup dropped their price objective on shares of Bumble from $14.00 to $12.00 and set a buy rating for the company in a research note on Monday, July 15th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $15.14.

Bumble Stock Performance

NASDAQ BMBL opened at $9.17 on Thursday. The firm has a 50-day moving average of $10.43 and a 200-day moving average of $11.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market cap of $1.16 billion, a PE ratio of 53.94 and a beta of 1.70. Bumble has a 52-week low of $8.65 and a 52-week high of $18.91.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The company had revenue of $267.80 million during the quarter, compared to analysts’ expectations of $265.41 million. During the same quarter last year, the company posted ($0.01) EPS. Bumble’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Bumble will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other Bumble news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the transaction, the director now directly owns 29,030 shares in the company, valued at approximately $331,232.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Bumble by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after acquiring an additional 297,286 shares during the period. Jump Financial LLC increased its position in Bumble by 1,895.5% in the 4th quarter. Jump Financial LLC now owns 222,396 shares of the company’s stock valued at $3,278,000 after acquiring an additional 211,251 shares during the period. Janney Montgomery Scott LLC acquired a new position in Bumble in the 1st quarter valued at approximately $937,000. Allspring Global Investments Holdings LLC increased its position in Bumble by 16.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after acquiring an additional 97,948 shares during the period. Finally, Duality Advisers LP acquired a new position in Bumble in the 1st quarter valued at approximately $1,049,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.