Susquehanna Issues Positive Forecast for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price target hoisted by Susquehanna from $6.00 to $8.00 in a research report report published on Monday morning,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other equities analysts have also recently commented on BMBL. Hsbc Global Res cut shares of Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. HSBC restated a “hold” rating on shares of Bumble in a research note on Friday, August 9th. Morgan Stanley decreased their price target on Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus upped their price objective on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, Bank of America lowered Bumble from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.38.

Bumble Stock Performance

NASDAQ BMBL traded down $0.04 during trading on Monday, reaching $8.81. The company’s stock had a trading volume of 193,888 shares, compared to its average volume of 3,121,481. The firm has a 50 day moving average price of $6.82 and a 200 day moving average price of $8.58. Bumble has a 12 month low of $4.80 and a 12 month high of $15.90. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -1.81 and a beta of 1.62. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45.

Hedge Funds Weigh In On Bumble

Several large investors have recently bought and sold shares of BMBL. Vanguard Group Inc. lifted its position in shares of Bumble by 6.0% during the first 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Bumble in the 2nd quarter worth approximately $24,121,000. The Manufacturers Life Insurance Company grew its holdings in shares of Bumble by 17.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after acquiring an additional 297,057 shares in the last quarter. Boston Partners increased its position in shares of Bumble by 2.0% during the first quarter. Boston Partners now owns 746,483 shares of the company’s stock valued at $8,348,000 after acquiring an additional 14,309 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Bumble by 13.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock worth $7,434,000 after acquiring an additional 83,397 shares during the period. 94.85% of the stock is currently owned by institutional investors.

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.