Bumble (NASDAQ:BMBL) Price Target Raised to $8.00

Bumble (NASDAQ:BMBL) had its price objective raised by Susquehanna from $6.00 to $8.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. Bank of America cut Bumble from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $12.00 to $5.50 in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price target 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. TD Cowen cut Bumble from a “buy” rating to a “hold” rating and reduced their price objective for the company from $22.00 to $7.50 in a research report on Friday, August 16th. Morgan Stanley dropped their target price on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Hsbc Global Res cut Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.38.

Bumble Trading Down 4.1 %

NASDAQ BMBL opened at $8.24 on Monday. Bumble has a 1 year low of $4.80 and a 1 year high of $15.90. The stock’s 50-day moving average price is $6.86 and its two-hundred day moving average price is $8.56. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.38 and a current ratio of 2.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in Bumble during the 1st quarter worth about $937,000. Quantbot Technologies LP bought a new stake in Bumble during the 1st quarter worth about $558,000. SG Americas Securities LLC boosted its stake in shares of Bumble by 94.9% in the 1st quarter. SG Americas Securities LLC now owns 45,482 shares of the company’s stock valued at $516,000 after purchasing an additional 22,146 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Bumble by 8.5% during the first quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after buying an additional 1,430 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Bumble in the first quarter valued at approximately $175,000. 94.85% of the stock is owned by institutional investors and hedge funds.

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.