Bumble (NASDAQ:BMBL) Trading 8.2% Higher After Analyst Upgrade

Bumble Inc. (NASDAQ:BMBL) traded up 8.2% during mid-day trading on Monday after Susquehanna raised their price target on the stock from $6.00 to $8.00. Susquehanna currently has a neutral rating on the stock. Bumble traded as high as $8.73 and last traded at $8.73. 509,921 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,118,904 shares. The stock had previously closed at $8.07.

Several other equities analysts also recently weighed in on BMBL. Wolfe Research assumed coverage on shares of Bumble in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $14.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. BTIG Research downgraded shares of Bumble from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. downgraded shares of Bumble from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $7.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.38.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently bought and sold shares of BMBL. Point72 Asset Management L.P. purchased a new stake in Bumble in the 2nd quarter valued at $24,121,000. Vanguard Group Inc. raised its position in Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after purchasing an additional 613,759 shares during the last quarter. Archon Capital Management LLC purchased a new position in Bumble during the 1st quarter worth $6,370,000. Joho Capital LLC purchased a new position in Bumble during the 1st quarter worth $6,242,000. Finally, Edgestream Partners L.P. purchased a new position in Bumble during the 1st quarter worth $4,563,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Stock Performance

The company has a market cap of $1.12 billion, a PE ratio of -1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. The stock’s 50-day simple moving average is $6.82 and its 200 day simple moving average is $8.58.

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.