Bumble (NASDAQ:BMBL) Price Target Raised to $7.00 at Wells Fargo & Company

Bumble (NASDAQ:BMBLFree Report) had its price target boosted by Wells Fargo & Company from $5.00 to $7.00 in a report issued on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Citigroup lowered their price objective on shares of Bumble from $6.80 to $4.80 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus lowered their price objective on shares of Bumble from $6.00 to $4.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Susquehanna lowered their price objective on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 price objective on shares of Bumble in a research note on Tuesday, June 3rd. Finally, UBS Group lifted their price target on shares of Bumble from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.97.

View Our Latest Stock Report on Bumble

Bumble Trading Down 0.9%

Shares of Bumble stock opened at $6.45 on Friday. The company’s fifty day simple moving average is $5.29 and its 200-day simple moving average is $6.02. The company has a market cap of $666.22 million, a price-to-earnings ratio of -1.32, a PEG ratio of 0.25 and a beta of 1.90. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.75. Bumble has a 1 year low of $3.55 and a 1 year high of $10.66.

Bumble (NASDAQ:BMBLGet Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The company had revenue of $247.10 million during the quarter, compared to analyst estimates of $246.68 million. Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. As a group, sell-side analysts expect that Bumble will post 4.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BMBL. Pale Fire Capital SE bought a new position in shares of Bumble during the first quarter valued at $43,000. Vident Advisory LLC bought a new position in shares of Bumble during the first quarter valued at $48,000. Teacher Retirement System of Texas bought a new position in shares of Bumble during the first quarter valued at $49,000. Tyche Wealth Partners LLC bought a new position in shares of Bumble during the first quarter valued at $52,000. Finally, Kestra Private Wealth Services LLC bought a new position in shares of Bumble during the first quarter valued at $54,000. 94.85% of the stock is owned by institutional investors.

Bumble Company Profile

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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.

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