Bumble (NASDAQ:BMBL) Stock Price Up 6.4% – Here’s Why

Bumble Inc. (NASDAQ:BMBL)’s stock price was up 6.4% during mid-day trading on Monday . The stock traded as high as $7.92 and last traded at $7.98. Approximately 325,096 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,052,393 shares. The stock had previously closed at $7.50.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BMBL shares. The Goldman Sachs Group upped 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. Morgan Stanley upped their price objective on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Citigroup increased their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Susquehanna increased their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Bumble currently has a consensus rating of “Hold” and a consensus price target of $8.50.

Bumble Stock Performance

The stock has a fifty day simple moving average of $8.07 and a two-hundred day simple moving average of $7.54. The stock has a market cap of $866.00 million, a price-to-earnings ratio of -1.64 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

Institutional Investors Weigh In On Bumble

A number of large investors have recently modified their holdings of BMBL. Principal Financial Group Inc. acquired a new stake in shares of Bumble during the 3rd quarter valued at $911,000. Victory Capital Management Inc. boosted its holdings in shares of Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after acquiring an additional 206,215 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Bumble during the 2nd quarter valued at $1,716,000. AXA S.A. lifted its holdings in Bumble by 1,589.8% during the 2nd quarter. AXA S.A. now owns 191,064 shares of the company’s stock worth $2,008,000 after buying an additional 179,757 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Bumble by 11.3% during the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after buying an additional 6,325 shares during the period. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.