Stifel Nicolaus Issues Positive Forecast for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price objective boosted by Stifel Nicolaus from $6.50 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential downside of 15.05% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Bumble from a “buy” rating to an “underperform” rating and reduced their price target for the company from $12.00 to $5.50 in a research report on Thursday, August 8th. Royal Bank of Canada decreased their target price on Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company reduced their price objective on Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. KeyCorp lowered Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Finally, HSBC reissued a “hold” rating on shares of Bumble in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.25.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $8.24 on Thursday. The firm’s 50-day simple moving average is $6.78 and its 200 day simple moving average is $8.59. The stock has a market cap of $1.04 billion, a P/E ratio of -1.65 and a beta of 1.62. 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 has a fifty-two week low of $4.80 and a fifty-two week high of $15.90.

Institutional Investors Weigh In On Bumble

A number of large investors have recently added to or reduced their stakes in BMBL. Innealta Capital LLC acquired a new stake in shares of Bumble in the second quarter worth $64,000. SG Americas Securities LLC acquired a new position in Bumble during the 3rd quarter worth $71,000. Capital Management Associates Inc bought a new stake in Bumble during the third quarter valued at about $74,000. Meeder Asset Management Inc. acquired a new stake in shares of Bumble in the second quarter valued at about $82,000. Finally, Headlands Technologies LLC bought a new position in shares of Bumble in the second quarter worth about $94,000. 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.