Bumble Inc. (NASDAQ:BMBL) Receives Average Recommendation of “Hold” from Brokerages

Shares of Bumble Inc. (NASDAQ:BMBL) have been assigned a consensus rating of “Hold” from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.50.

BMBL has been the topic of a number of recent research reports. Stifel Nicolaus upped their price target on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Morgan Stanley upped their target price on Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna increased their price target on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group lifted their target price on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of BMBL. Vanguard Personalized Indexing Management LLC purchased a new position in Bumble during the 2nd quarter worth approximately $203,000. Hsbc Holdings PLC grew its position in Bumble by 41.8% in the second quarter. Hsbc Holdings PLC now owns 60,678 shares of the company’s stock worth $631,000 after acquiring an additional 17,888 shares in the last quarter. AXA S.A. increased its stake in shares of Bumble by 1,589.8% during the 2nd quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after purchasing an additional 179,757 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Bumble by 17.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after buying an additional 297,057 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Bumble during the 2nd quarter worth about $333,000. Institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

BMBL opened at $8.11 on Wednesday. The firm has a market cap of $877.34 million, a P/E ratio of -1.66 and a beta of 1.70. Bumble has a 1-year low of $4.80 and a 1-year high of $14.30. The company has a 50 day simple moving average of $8.10 and a two-hundred day simple moving average of $7.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

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.