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

Bumble (NASDAQ:BMBL) had its price target lifted by Morgan Stanley from $7.50 to $8.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also issued reports on BMBL. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Susquehanna upped their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Citigroup increased their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group increased their price objective on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bumble presently has an average rating of “Hold” and an average target price of $8.50.

Bumble Trading Up 4.8 %

Shares of NASDAQ BMBL opened at $7.83 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $847.07 million, a PE ratio of -1.60 and a beta of 1.70. Bumble has a twelve month low of $4.80 and a twelve month high of $14.65. The stock has a fifty day simple moving average of $8.16 and a 200-day simple moving average of $7.65.

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Bumble during the fourth quarter worth approximately $56,000. JPMorgan Chase & Co. grew its position in shares of Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after buying an additional 2,760 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Bumble during the 3rd quarter worth $911,000. Franklin Resources Inc. lifted its position in Bumble by 11.3% in the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after acquiring an additional 6,325 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Bumble by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after acquiring an additional 14,889 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

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.