Bumble (NASDAQ:BMBL) Trading Up 6.4% - Should You Buy?

Bumble Inc. (NASDAQ:BMBL - Get Free Report)'s stock price rose 6.4% during mid-day trading on Monday . The company traded as high as $7.92 and last traded at $7.98. Approximately 325,096 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,052,393 shares. The stock had previously closed at $7.50.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMBL. The Goldman Sachs Group upped their target price on Bumble from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley raised their price objective on shares of Bumble from $7.50 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Piper Sandler reiterated a "neutral" rating and issued a $8.00 price objective (up previously from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Wolfe Research lowered shares of Bumble from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Susquehanna lifted their price target on shares of Bumble from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8.50.

Bumble Trading Down 3.6 %

The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The firm's fifty day moving average is $8.10 and its two-hundred day moving average is $7.51. The firm has a market capitalization of $877.34 million, a PE ratio of -1.66 and a beta of 1.70.

Institutional Trading of Bumble

A number of hedge funds have recently bought and sold shares of BMBL. Rhumbline Advisers raised its stake in shares of Bumble by 1.4% during the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company's stock worth $1,262,000 after purchasing an additional 2,157 shares during the period. JPMorgan Chase & Co. increased its holdings in Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company's stock worth $841,000 after buying an additional 2,760 shares during the last quarter. nVerses Capital LLC raised its position in Bumble by 47.9% in the third quarter. nVerses Capital LLC now owns 17,900 shares of the company's stock worth $114,000 after acquiring an additional 5,800 shares during the period. Franklin Resources Inc. boosted its stake in Bumble by 11.3% in the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company's stock valued at $421,000 after acquiring an additional 6,325 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Bumble during the 4th quarter valued at approximately $56,000. 94.85% of the stock is currently owned by 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.