Bumble (NASDAQ:BMBL) Shares Gap Up - Should You Buy?

Bumble Inc. (NASDAQ:BMBL - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $7.83, but opened at $8.50. Bumble shares last traded at $7.82, with a volume of 1,294,491 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on BMBL shares. Stifel Nicolaus increased their price objective on shares of Bumble from $6.50 to $7.00 and gave the stock a "hold" rating in a report on Thursday, November 7th. Susquehanna lifted their price objective on Bumble from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price objective on Bumble from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Piper Sandler reissued a "neutral" rating and issued a $8.00 target price (up previously from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Finally, KeyCorp lowered Bumble from an "overweight" rating to a "sector weight" rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Bumble has a consensus rating of "Hold" and an average price target of $8.50.

Bumble Trading Down 1.5 %

The company has a market capitalization of $833.00 million, a P/E ratio of -1.57 and a beta of 1.70. The business has a fifty day moving average price of $8.15 and a 200 day moving average price of $7.64. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of Bumble by 20.6% during the 2nd quarter. Victory Capital Management Inc. now owns 43,810 shares of the company's stock worth $460,000 after buying an additional 7,475 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Bumble during the 2nd quarter worth about $203,000. Hsbc Holdings PLC raised its holdings in shares of Bumble by 41.8% in the 2nd quarter. Hsbc Holdings PLC now owns 60,678 shares of the company's stock valued at $631,000 after purchasing an additional 17,888 shares during the period. MQS Management LLC acquired a new stake in Bumble in the 2nd quarter valued at about $201,000. Finally, Ensign Peak Advisors Inc lifted its stake in Bumble by 9.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company's stock valued at $603,000 after purchasing an additional 4,800 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company's stock.

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.