Bumble (NASDAQ:BMBL) Trading Up 5.6% – Still a Buy?

Bumble Inc. (NASDAQ:BMBL)’s stock price rose 5.6% during mid-day trading on Friday . The stock traded as high as $4.99 and last traded at $4.99. Approximately 881,083 shares were traded during trading, a decline of 71% from the average daily volume of 2,999,312 shares. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

BMBL has been the topic of several research analyst reports. Susquehanna cut their price objective on Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday. Piper Sandler reduced their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.52.

Bumble Stock Up 6.9 %

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 company has a market cap of $546.86 million, a PE ratio of -1.04 and a beta of 1.77. The business has a 50-day simple moving average of $7.34 and a 200-day simple moving average of $7.32.

Institutional Investors Weigh In On Bumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its position in shares of Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after purchasing an additional 1,298,630 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Bumble by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after buying an additional 22,136 shares during the last quarter. RPD Fund Management LLC purchased a new stake in Bumble during the 4th quarter worth approximately $30,940,000. Geode Capital Management LLC boosted its stake in shares of Bumble by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock worth $14,872,000 after acquiring an additional 14,889 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Bumble by 3.5% during the fourth quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after purchasing an additional 32,353 shares in the last quarter. Hedge funds and other institutional investors 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.