The Goldman Sachs Group Forecasts Strong Price Appreciation for Bumble (NASDAQ:BMBL) Stock

Bumble (NASDAQ:BMBL) had its price target boosted by equities researchers at The Goldman Sachs Group from $9.00 to $10.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 26.90% from the stock’s previous close.

Several other research firms have also issued reports on BMBL. Morgan Stanley lowered their price target on shares of Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company reduced their price target on Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. TD Cowen cut Bumble from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $22.00 to $7.50 in a report on Friday, August 16th. Evercore ISI lowered Bumble from an “outperform” rating to an “inline” rating and reduced their target price for the company from $18.00 to $8.00 in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a report 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. According to data from MarketBeat.com, Bumble has an average rating of “Hold” and an average price target of $8.62.

Bumble Stock Performance

BMBL stock traded up $0.07 during mid-day trading on Thursday, hitting $7.88. The company had a trading volume of 2,149,167 shares, compared to its average volume of 3,120,774. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. The firm has a market cap of $997.14 million, a PE ratio of 23.26 and a beta of 1.62. Bumble has a 12 month low of $4.80 and a 12 month high of $15.90. The stock’s fifty day moving average price is $6.70 and its two-hundred day moving average price is $8.64.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, analysts forecast that Bumble will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new position in Bumble in the 1st quarter worth approximately $937,000. Duality Advisers LP purchased a new position in shares of Bumble in the first quarter worth $1,049,000. Quantbot Technologies LP bought a new stake in Bumble during the 1st quarter valued at $558,000. SG Americas Securities LLC boosted its position in Bumble by 94.9% during the 1st quarter. SG Americas Securities LLC now owns 45,482 shares of the company’s stock valued at $516,000 after buying an additional 22,146 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Bumble by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after acquiring an additional 1,430 shares during the last quarter. Hedge funds and other institutional investors 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.