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

Bumble (NASDAQ:BMBL) had its price objective increased by Citigroup from $4.80 to $7.00 in a research note published on Friday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on BMBL. 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $7.00 price target (up previously from $5.00) on shares of Bumble in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of Bumble from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Stifel Nicolaus decreased their price target 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. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 price objective on shares of Bumble in a report on Tuesday, June 3rd. Two equities research 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. According to MarketBeat, Bumble presently has an average rating of “Hold” and a consensus price target of $6.97.

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:BMBL) 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). Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. The company had revenue of $247.10 million during the quarter, compared to analyst estimates of $246.68 million. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Bumble will post 4.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock worth $60,000 after purchasing an additional 1,249 shares during the last quarter. Franklin Resources Inc. increased its stake in Bumble by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after purchasing an additional 1,666 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Bumble by 1.4% in the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after purchasing an additional 2,157 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of Bumble by 14.2% in the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock valued at $253,000 after purchasing an additional 3,853 shares during the last quarter. Finally, Mariner LLC raised its holdings in shares of Bumble by 25.3% in the fourth quarter. Mariner LLC now owns 19,415 shares of the company’s stock valued at $158,000 after purchasing an additional 3,926 shares during the last quarter. 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.