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

Bumble (NASDAQ:BMBL) had its price target hoisted by Citigroup from $6.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Bank of America cut shares of Bumble from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $12.00 to $5.50 in a report on Thursday, August 8th. JPMorgan Chase & Co. cut Bumble from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $7.00 in a report on Thursday, August 8th. Morgan Stanley lowered their price target on shares of Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.76.

Bumble Stock Up 3.7 %

BMBL stock traded up $0.29 during midday trading on Thursday, reaching $8.07. 2,908,429 shares of the company’s stock traded hands, compared to its average volume of 3,130,926. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 23.59 and a beta of 1.62. Bumble has a 52 week low of $4.80 and a 52 week high of $15.90. The firm’s fifty day moving average price is $6.75 and its 200-day moving average price is $8.63. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The business had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Bumble will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Bumble by 6.0% during 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 during the period. Point72 Asset Management L.P. bought a new position in shares of Bumble during the 2nd quarter worth about $24,121,000. The Manufacturers Life Insurance Company increased its position in shares of Bumble by 17.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock worth $21,468,000 after acquiring an additional 297,057 shares in the last quarter. Boston Partners boosted its holdings in Bumble by 2.0% during the 1st quarter. Boston Partners now owns 746,483 shares of the company’s stock worth $8,348,000 after acquiring an additional 14,309 shares during 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. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.