Bumble (NASDAQ:BMBL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Bumble (NASDAQ:BMBL) had its target price upped by equities researchers at Stifel Nicolaus from $6.50 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 10.26% from the company’s previous close.

Other analysts also recently issued reports about the stock. Susquehanna downgraded shares of Bumble from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $6.00 in a research report on Friday, August 9th. Hsbc Global Res downgraded shares of Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada cut their price objective on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. HSBC reissued a “hold” rating on shares of Bumble in a research report on Friday, August 9th. Finally, Wells Fargo & Company cut their price objective on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Bumble presently has a consensus rating of “Hold” and a consensus price target of $8.76.

Bumble Trading Down 0.1 %

NASDAQ BMBL traded down $0.01 during trading on Thursday, hitting $7.80. The company had a trading volume of 3,246,027 shares, compared to its average volume of 3,126,202. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45. Bumble has a one year low of $4.80 and a one year high of $15.90. The company has a market cap of $987.01 million, a price-to-earnings ratio of 22.94 and a beta of 1.62. The company’s fifty day moving average is $6.73 and its 200-day moving average is $8.63.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. On average, sell-side analysts predict that Bumble will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Bumble

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after buying an additional 613,759 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Bumble in the first quarter valued at $937,000. Duality Advisers LP purchased a new position in shares of Bumble in the first quarter valued at $1,049,000. Picton Mahoney Asset Management purchased a new position in shares of Bumble in the first quarter valued at $1,378,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Bumble in the first quarter valued at $831,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.