Bumble (NASDAQ:BMBL) Shares Gap Up – Still a Buy?

Bumble Inc. (NASDAQ:BMBL) gapped up before the market opened on Friday . The stock had previously closed at $7.83, but opened at $8.50. Bumble shares last traded at $7.82, with a volume of 1,294,491 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup raised their price target on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Susquehanna raised their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 target price (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.50.

Bumble Stock Down 1.1 %

The firm’s fifty day simple moving average is $8.16 and its 200 day simple moving average is $7.66. The company has a market cap of $837.85 million, a price-to-earnings ratio of -1.58 and a beta of 1.70. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Hedge Funds Weigh In On Bumble

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new stake in Bumble in the fourth quarter valued at $56,000. JPMorgan Chase & Co. raised its stake in Bumble by 2.1% in the third 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 in the last quarter. Principal Financial Group Inc. acquired a new stake in Bumble in the third quarter valued at $911,000. Franklin Resources Inc. raised its stake 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 buying an additional 6,325 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 buying an additional 14,889 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.