Stifel Nicolaus Forecasts Strong Price Appreciation for Bumble (NASDAQ:BMBL) Stock

Bumble (NASDAQ:BMBL) had its price target upped by Stifel Nicolaus from $6.50 to $7.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also recently commented on BMBL. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Bumble from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $7.00 in a research report on Thursday, August 8th. Royal Bank of Canada cut their target price on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Evercore ISI cut Bumble from an “outperform” rating to an “inline” rating and cut their price target for the stock from $18.00 to $8.00 in a research note on Thursday, August 8th. Finally, Citigroup raised their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.76.

Bumble Stock Up 3.7 %

Shares of NASDAQ BMBL traded up $0.29 during mid-day trading on Thursday, reaching $8.07. 2,908,429 shares of the company were exchanged, compared to its average volume of 3,130,926. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 23.59 and a beta of 1.62. The firm has a 50-day moving average of $6.75 and a 200 day moving average of $8.63. Bumble has a 1 year low of $4.80 and a 1 year high of $15.90. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $268.60 million during the quarter, compared to analyst estimates of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. On average, research analysts expect that Bumble will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMBL. Innealta Capital LLC acquired a new position in Bumble during the second quarter worth approximately $64,000. SG Americas Securities LLC purchased a new stake in Bumble in the 3rd quarter valued at $71,000. Capital Management Associates Inc purchased a new position in shares of Bumble during the 3rd quarter valued at $74,000. Meeder Asset Management Inc. bought a new position in Bumble in the 2nd quarter worth about $82,000. Finally, Headlands Technologies LLC purchased a new position in shares of Bumble during the 2nd quarter valued at $94,000. 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.