Citigroup Boosts Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL) had its price target raised by stock analysts at Citigroup from $4.80 to $7.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 8.53% from the company’s previous close.

Several other equities research analysts have also recently issued reports on BMBL. UBS Group lifted their price objective on Bumble from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $7.00 price objective (up from $5.00) on shares of Bumble in a report on Thursday. Wells Fargo & Company boosted their target price on Bumble from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday. Morgan Stanley cut their price objective on Bumble from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price objective on shares of Bumble in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Bumble currently has a consensus rating of “Hold” and an average target price of $6.97.

Bumble Stock Performance

NASDAQ BMBL opened at $6.45 on Friday. The stock has a 50-day simple moving average of $5.29 and a two-hundred day simple moving average of $6.01. The firm has a market capitalization of $666.22 million, a P/E ratio of -1.32, a PEG ratio of 0.25 and a beta of 1.90. Bumble has a fifty-two week low of $3.55 and a fifty-two week high of $10.66. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.83 and a current ratio of 2.83.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Bumble had a negative net margin of 54.06% and a positive return on equity of 5.81%. The company had revenue of $247.10 million for the quarter, compared to analysts’ expectations of $246.68 million. During the same quarter in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. On average, equities analysts forecast that Bumble will post 4.19 earnings per share for the current year.

Institutional Trading of Bumble

A number of hedge funds have recently bought and sold shares of the company. Pale Fire Capital SE acquired a new position in shares of Bumble in the 1st quarter valued at $43,000. Vident Advisory LLC purchased a new stake in Bumble during the 1st quarter worth $48,000. Teacher Retirement System of Texas purchased a new stake in Bumble during the 1st quarter worth $49,000. Tyche Wealth Partners LLC purchased a new stake in Bumble during the 1st quarter worth $52,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Bumble in the 1st quarter worth about $54,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

About Bumble

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.