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

Bumble (NASDAQ:BMBL) had its target price raised by stock analysts at Citigroup from $6.00 to $8.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 2.56% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $8.00 target price (up from $7.00) on shares of Bumble in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and cut their target price for the company from $18.00 to $8.00 in a report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, TD Cowen downgraded shares of Bumble from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $7.50 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.74.

Bumble Trading Down 0.1 %

Shares of NASDAQ:BMBL traded down $0.01 during midday trading on Thursday, hitting $7.80. 2,450,391 shares of the stock traded hands, compared to its average volume of 3,122,519. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $6.70 and its two-hundred day moving average is $8.64. The stock has a market capitalization of $987.01 million, a PE ratio of 23.29 and a beta of 1.62. Bumble has a one year low of $4.80 and a one year high of $15.90.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, research analysts forecast that Bumble will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Bumble

Several large investors have recently modified their holdings of BMBL. Innealta Capital LLC purchased a new position in Bumble during the 2nd quarter worth $64,000. Meeder Asset Management Inc. purchased a new position in shares of Bumble in the second quarter valued at $82,000. Headlands Technologies LLC acquired a new stake in shares of Bumble during the second quarter valued at $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bumble in the 2nd quarter valued at about $111,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Bumble during the third quarter worth about $71,000. 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.