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

Bumble (NASDAQ:BMBL - Get Free Report) had its target price boosted by stock analysts at Morgan Stanley from $7.50 to $8.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 6.95% from the stock's current price.

BMBL has been the topic of several other reports. Wolfe Research lowered shares of Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Susquehanna raised their price target on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. Citigroup lifted their price objective on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their price target on Bumble from $6.50 to $7.00 and gave the company a "hold" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.50.

Bumble Price Performance

BMBL stock traded down $0.08 during trading on Monday, hitting $7.48. 1,405,291 shares of the stock traded hands, compared to its average volume of 1,953,099. The stock has a market cap of $809.20 million, a price-to-earnings ratio of -1.53 and a beta of 1.70. Bumble has a one year low of $4.80 and a one year high of $14.65. The company has a 50 day simple moving average of $8.15 and a 200 day simple moving average of $7.69. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Investors Weigh In On Bumble

Institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new position in shares of Bumble during the 4th quarter worth about $56,000. Headlands Technologies LLC bought a new stake in Bumble in the second quarter valued at approximately $94,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Bumble in the second quarter valued at approximately $111,000. SG Americas Securities LLC acquired a new stake in shares of Bumble in the third quarter valued at approximately $71,000. Finally, Capital Management Associates Inc bought a new position in shares of Bumble during the 3rd quarter worth approximately $74,000. Institutional investors own 94.85% of the company's stock.

Bumble Company Profile

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.