Analysts Set Bumble Inc. (NASDAQ:BMBL) Target Price at $8.38

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) have been assigned a consensus rating of "Hold" from the eighteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.38.

Several equities analysts have issued reports on the stock. Citigroup upped their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. KeyCorp lowered Bumble from an "overweight" rating to a "sector weight" rating in a research report on Friday, September 27th. The Goldman Sachs Group lifted their target price on shares of Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus raised their price objective on shares of Bumble from $6.50 to $7.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Finally, Susquehanna boosted their price target on Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a research report on Monday, November 11th.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in shares of Bumble during the 3rd quarter valued at about $911,000. Victory Capital Management Inc. boosted its holdings in shares of Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company's stock valued at $1,595,000 after acquiring an additional 206,215 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Bumble during the second quarter worth about $823,000. Susquehanna Fundamental Investments LLC bought a new stake in Bumble in the 2nd quarter valued at about $1,716,000. Finally, Versor Investments LP acquired a new position in Bumble during the 2nd quarter valued at about $324,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Stock Up 1.6 %

Bumble stock traded up $0.13 during mid-day trading on Friday, hitting $8.10. The company had a trading volume of 1,463,566 shares, compared to its average volume of 1,486,433. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble has a 1 year low of $4.80 and a 1 year high of $15.05. The business has a fifty day moving average of $8.09 and a 200 day moving average of $7.79. The stock has a market cap of $876.27 million, a price-to-earnings ratio of -1.66 and a beta of 1.71.

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.