Bumble (NASDAQ:BMBL) Stock Price Up 6% – Still a Buy?

Bumble Inc. (NASDAQ:BMBL)’s stock price rose 6% on Monday . The company traded as high as $5.56 and last traded at $5.53. Approximately 3,060,712 shares changed hands during trading, a decline of 1% from the average daily volume of 3,076,997 shares. The stock had previously closed at $5.21.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their price target on Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Piper Sandler cut their target price on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on Bumble from $7.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Evercore ISI decreased their price objective on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.05.

Bumble Stock Performance

The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $7.86 and a 200-day simple moving average of $7.39. The company has a market capitalization of $598.24 million, a P/E ratio of -1.13 and a beta of 1.70.

Institutional Trading of Bumble

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC bought a new stake in Bumble during the 4th quarter worth approximately $187,000. Principal Financial Group Inc. acquired a new position in Bumble in the third quarter worth $911,000. Victory Capital Management Inc. grew its holdings in shares of Bumble by 470.7% during the third quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 during the last quarter. Finally, Franklin Resources Inc. grew 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 acquiring an additional 6,325 shares during the last quarter. 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.