Bumble (NASDAQ:BMBL) Shares Gap Down – Time to Sell?

Bumble Inc. (NASDAQ:BMBL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $7.97, but opened at $7.56. Bumble shares last traded at $8.02, with a volume of 174,580 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BMBL. Stifel Nicolaus increased their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Piper Sandler reiterated a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. Citigroup upped their target price on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their target price on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. One analyst has 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.com, Bumble currently has a consensus rating of “Hold” and an average price target of $8.38.

Bumble Stock Down 1.5 %

The firm has a 50-day simple moving average of $8.07 and a 200 day simple moving average of $7.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market capitalization of $849.23 million, a PE ratio of -1.61 and a beta of 1.71.

Institutional Investors Weigh In On Bumble

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in shares of Bumble during the third quarter valued at approximately $911,000. Victory Capital Management Inc. increased its holdings in shares of Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after acquiring an additional 206,215 shares during the period. Dark Forest Capital Management LP acquired a new position in Bumble during the 2nd quarter valued at about $823,000. Susquehanna Fundamental Investments LLC acquired a new position in Bumble during the 2nd quarter valued at about $1,716,000. Finally, Versor Investments LP acquired a new stake in shares of Bumble in the second quarter valued at approximately $324,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Company Profile

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.