Bumble (NASDAQ:BMBL) Rating Increased to Buy at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) was upgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report released on Thursday, PriceTargets.com reports. The firm currently has a $54.00 price target on the stock, down from their previous price target of $57.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 62.41% from the company’s current price.

BMBL has been the topic of a number of other reports. Raymond James upgraded Bumble from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Monday, November 29th. Wolfe Research cut their price objective on Bumble from $50.00 to $46.00 and set a “peer perform” rating for the company in a report on Thursday, November 11th. Jefferies Financial Group dropped their target price on Bumble from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 11th. Susquehanna Bancshares lowered their price objective 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, JPMorgan Chase & Co. raised Bumble from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Tuesday, December 7th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $57.94.

Shares of BMBL stock opened at $33.25 on Thursday. The firm has a market cap of $4.30 billion and a PE ratio of 21.31. Bumble has a 12 month low of $29.60 and a 12 month high of $84.80. The company’s fifty day simple moving average is $35.41 and its 200-day simple moving average is $46.38. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.25.

Bumble (NASDAQ:BMBL) last posted its 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). The company had revenue of $200.51 million during the quarter, compared to the consensus estimate of $197.53 million. Bumble had a negative return on equity of 2.58% and a net margin of 41.61%. On average, equities analysts predict that Bumble will post 0.04 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of BMBL. Advisor Group Holdings Inc. lifted its stake in Bumble by 82.9% during the second quarter. Advisor Group Holdings Inc. now owns 6,870 shares of the company’s stock worth $395,000 after purchasing an additional 3,114 shares in the last quarter. Victory Capital Management Inc. raised its stake in Bumble by 26.3% in the second quarter. Victory Capital Management Inc. now owns 11,525 shares of the company’s stock valued at $664,000 after buying an additional 2,402 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in Bumble in the second quarter valued at $398,000. Citigroup Inc. grew its holdings in shares of Bumble by 25.0% during the second quarter. Citigroup Inc. now owns 11,771 shares of the company’s stock worth $678,000 after purchasing an additional 2,356 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Bumble during the second quarter worth about $361,000.

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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