Bumble (NASDAQ:BMBL) Receives New Coverage from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Bumble (NASDAQ:BMBL) in a research report report published on Wednesday morning, Price Targets.com reports. The firm issued a neutral rating and a $35.00 target price on the stock.

BMBL has been the topic of several other research reports. JPMorgan Chase & Co. upgraded Bumble from a neutral rating to an overweight rating and set a $55.00 target price on the stock in a research report on Tuesday, December 7th. BMO Capital Markets cut their price target on Bumble from $55.00 to $48.00 and set a market perform rating on the stock in a report on Thursday, November 11th. Jefferies Financial Group cut their price target on Bumble from $65.00 to $60.00 and set a buy rating on the stock in a report on Thursday, November 11th. Susquehanna decreased their price target on Bumble from $70.00 to $58.00 and set a positive rating for the company in a research report on Thursday, November 11th. Finally, Raymond James raised Bumble from a market perform rating to an outperform rating and set a $48.00 target price for the company in a research report on Monday, November 29th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bumble presently has a consensus rating of Buy and an average target price of $57.94.

Bumble stock opened at $33.25 on Wednesday. Bumble has a 52 week low of $29.60 and a 52 week high of $84.80. The stock has a fifty day moving average of $35.41 and a 200-day moving average of $46.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $4.30 billion and a P/E ratio of 21.31.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Bumble had a net margin of 41.61% and a negative return on equity of 2.58%. The company had revenue of $200.51 million during the quarter, compared to the consensus estimate of $197.53 million. On average, research analysts forecast that Bumble will post 0.04 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Bumble by 311.5% in the second quarter. JPMorgan Chase & Co. now owns 5,469,314 shares of the company’s stock worth $315,032,000 after buying an additional 4,140,121 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Bumble by 192.9% in the second quarter. Lord Abbett & CO. LLC now owns 2,111,381 shares of the company’s stock worth $121,615,000 after buying an additional 1,390,596 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Bumble by 196.1% in the second quarter. Wells Fargo & Company MN now owns 2,045,556 shares of the company’s stock worth $117,824,000 after buying an additional 1,354,655 shares during the period. First Trust Advisors LP increased its holdings in shares of Bumble by 682.0% in the second quarter. First Trust Advisors LP now owns 1,473,706 shares of the company’s stock worth $84,885,000 after buying an additional 1,285,243 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of Bumble in the second quarter worth about $60,759,000.

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 credit-based dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis.

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Analyst Recommendations for Bumble (NASDAQ:BMBL)

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