Bumble Inc. (NASDAQ:BMBL) Given Consensus Rating of "Hold" by Analysts

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) have been given an average rating of "Hold" by the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.38.

A number of research firms have recently commented on BMBL. Citigroup raised their price target on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. TD Cowen downgraded Bumble from a "buy" rating to a "hold" rating and cut their target price for the stock from $22.00 to $7.50 in a research note on Friday, August 16th. Stifel Nicolaus upped 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. The Goldman Sachs Group increased their price target on shares of Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, KeyCorp cut shares of Bumble from an "overweight" rating to a "sector weight" rating in a research note on Friday, September 27th.

Bumble Stock Performance

BMBL traded down $0.05 on Tuesday, hitting $8.57. The company's stock had a trading volume of 3,105,453 shares, compared to its average volume of 3,048,737. Bumble has a 12 month low of $4.80 and a 12 month high of $15.90. The firm has a market cap of $927.12 million, a P/E ratio of -1.65 and a beta of 1.71. 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 company's 50 day simple moving average is $7.61 and its 200-day simple moving average is $8.19.

Hedge Funds Weigh In On Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of BMBL. Point72 Asset Management L.P. bought a new stake in Bumble in the 2nd quarter worth approximately $24,121,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Bumble by 17.0% in the 2nd 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 during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company's stock valued at $1,595,000 after purchasing an additional 206,215 shares in the last quarter. AXA S.A. grew its holdings in shares of Bumble by 1,589.8% during the 2nd quarter. AXA S.A. now owns 191,064 shares of the company's stock valued at $2,008,000 after purchasing an additional 179,757 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Bumble in the 2nd quarter worth $1,716,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

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.