Bumble Inc. (NASDAQ:BMBL) Receives Average Recommendation of “Hold” from Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have received a consensus rating of “Hold” from the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $8.38.

BMBL has been the subject of a number of recent research reports. BTIG Research downgraded Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Stifel Nicolaus increased their price target on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Hsbc Global Res downgraded Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Susquehanna raised their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, KeyCorp lowered shares of Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th.

Institutional Investors Weigh In On Bumble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after acquiring an additional 613,759 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Bumble during the 1st quarter worth approximately $937,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Bumble during the first quarter worth approximately $831,000. Edgestream Partners L.P. acquired a new stake in Bumble during the 1st quarter worth $4,563,000. Finally, SG Americas Securities LLC lifted its stake in shares of Bumble by 94.9% in the 1st quarter. SG Americas Securities LLC now owns 45,482 shares of the company’s stock valued at $516,000 after purchasing an additional 22,146 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Price Performance

NASDAQ:BMBL opened at $7.91 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The business’s 50-day moving average price is $7.06 and its 200 day moving average price is $8.48. Bumble has a 52-week low of $4.80 and a 52-week high of $15.90. The firm has a market cap of $855.70 million, a P/E ratio of -1.62 and a beta of 1.62.

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.