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

Bumble Inc. (NASDAQ:BMBL) has been assigned a consensus rating of “Hold” from the nineteen ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $7.25.

A number of equities research analysts have weighed in on BMBL shares. Morgan Stanley reduced their target price on shares of Bumble from $8.00 to $6.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Susquehanna reduced their target price on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Piper Sandler reduced their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in Bumble during the fourth quarter worth $56,000. Tower Research Capital LLC TRC raised its holdings in Bumble by 20.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after buying an additional 1,249 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Bumble during the third quarter worth $77,000. Quantinno Capital Management LP acquired a new position in Bumble during the third quarter worth $90,000. Finally, Canada Pension Plan Investment Board raised its holdings in Bumble by 56.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock worth $90,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Trading Up 1.7 %

BMBL opened at $4.69 on Thursday. Bumble has a fifty-two week low of $4.57 and a fifty-two week high of $12.49. 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 has a market capitalization of $495.01 million, a price-to-earnings ratio of -0.96 and a beta of 1.77. The company’s 50 day moving average price is $6.76 and its two-hundred day moving average price is $7.21.

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.