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

Bumble (NASDAQ:BMBL) had its price objective upped by equities researchers at Citigroup from $6.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential downside of 3.61% from the company’s previous close.

Several other research analysts also recently commented on the stock. Hsbc Global Res downgraded shares of Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Evercore ISI downgraded Bumble from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $18.00 to $8.00 in a research report on Thursday, August 8th. HSBC reiterated a “hold” rating on shares of Bumble in a research report on Friday, August 9th. Stifel Nicolaus cut shares of Bumble from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.00 to $6.50 in a report on Thursday, August 8th. Finally, Wolfe Research assumed coverage on shares of Bumble in a report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.25.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $8.30 on Thursday. The business has a fifty day moving average price of $6.78 and a two-hundred day moving average price of $8.59. The stock has a market capitalization of $1.05 billion, a PE ratio of -1.65 and a beta of 1.62. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 2.38. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.90.

Institutional Trading of Bumble

A number of institutional investors and hedge funds have recently bought and sold shares of BMBL. Vanguard Group Inc. raised its holdings 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 purchasing an additional 613,759 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Bumble in the 1st quarter valued at about $937,000. Duality Advisers LP bought a new stake in Bumble in the 1st quarter valued at about $1,049,000. Picton Mahoney Asset Management acquired a new position in Bumble during the 1st quarter worth approximately $1,378,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Bumble in the first quarter worth approximately $831,000. 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.