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Online Dating Stock Edges Higher on Analyst Rating

by OptionsGal
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Baird said BMBL boasts a “relatively cheap” valuation at the moment

Bumble Inc. (NASDAQ:BMBL) continues to attract attention. A bunch of middlemen. This time, it was Baird who began coverage of the stock with an “outperform” rating and a price target of $23, with the analysts in question focusing on recent “relatively cheap” valuations.

Most analysts are bullish on Bumble stock, with 10 out of 15 in question giving it a ‘buy’ or higher rating. Moreover, his 12-month consensus target price of $26.92 is a significant 43% premium over current levels.

Options traders are also firmly optimistic. On the International Stock Exchange (ISE), Cboe Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX), the stock’s 50-day call/put volume ratio of 1.89 is higher than 95% of its reading over the past year. , indicating long-term holding. Calls are more popular than usual.

But short selling is not to be discouraged. Short interest rates rose 29.6% for him in the most recent reporting period, and the 7.48 million shares sold short now account for his 5.8% of the stock’s available float.

It last saw a 0.7% gain at $18.77, rebounding from its lowest level since May. The 20-day moving average is still holding back the BMBL, which has lost 10.7% year-to-date.

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