Bumble (NASDAQ:BMBL) Given New $8.00 Price Target at Susquehanna

Bumble (NASDAQ:BMBL - Get Free Report) had its target price lifted by stock analysts at Susquehanna from $6.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Susquehanna's price objective points to a potential downside of 9.60% from the stock's current price.

BMBL has been the topic of a number of other reports. TD Cowen downgraded Bumble from a "buy" rating to a "hold" rating and lowered their price target for the company from $22.00 to $7.50 in a report on Friday, August 16th. Stifel Nicolaus boosted their target price on shares of Bumble from $6.50 to $7.00 and gave the company a "hold" rating in a research note on Thursday. HSBC restated a "hold" rating on shares of Bumble in a research note on Friday, August 9th. Morgan Stanley reduced their price target on shares of Bumble from $12.00 to $6.00 and set an "equal weight" rating for the company in a research report on Thursday, August 8th. Finally, Citigroup raised their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.38.

Bumble Stock Up 9.7 %

NASDAQ:BMBL traded up $0.78 during trading hours on Monday, reaching $8.85. 3,997,902 shares of the company traded hands, compared to its average volume of 3,134,909. The stock has a market capitalization of $1.12 billion, a P/E ratio of -1.81 and a beta of 1.62. The business's 50-day moving average price is $6.82 and its two-hundred day moving average price is $8.58. Bumble has a 1 year low of $4.80 and a 1 year high of $15.90. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45.

Hedge Funds Weigh In On Bumble

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew 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 acquiring an additional 613,759 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Bumble during the first quarter worth $937,000. Picton Mahoney Asset Management purchased a new position in shares of Bumble in the 1st quarter valued at $1,378,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Bumble in the 1st quarter worth $831,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Bumble during the 1st quarter worth $558,000. Hedge funds and other 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.