Bumble Inc. (NASDAQ:BMBL) Given Average Recommendation of “Hold” by Brokerages

Bumble Inc. (NASDAQ:BMBL) has earned an average recommendation of “Hold” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.38.

Several research firms have recently weighed in on BMBL. Wells Fargo & Company lowered their target price on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada decreased their price objective 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. Hsbc Global Res lowered shares of Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and decreased their price objective for the stock from $18.00 to $8.00 in a report on Thursday, August 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $8.00 price objective (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th.

Hedge Funds Weigh In On Bumble

A number of institutional investors have recently modified their holdings of BMBL. Innealta Capital LLC bought a new position in shares of Bumble during the 2nd quarter worth $64,000. SG Americas Securities LLC bought a new stake in shares of Bumble in the 3rd quarter valued at about $71,000. Capital Management Associates Inc bought a new stake in shares of Bumble in the 3rd quarter valued at about $74,000. D.A. Davidson & CO. bought a new stake in shares of Bumble in the 3rd quarter valued at about $77,000. Finally, Meeder Asset Management Inc. purchased a new position in Bumble during the 2nd quarter valued at about $82,000. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Trading Down 0.1 %

Shares of Bumble stock opened at $8.23 on Friday. The firm has a market capitalization of $1.04 billion, a PE ratio of -1.68 and a beta of 1.62. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.38. The company’s fifty day moving average price is $6.89 and its two-hundred day moving average price is $8.56. Bumble has a 52-week low of $4.80 and a 52-week high of $15.90.

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.