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Baird said BMBL boasts "relatively inexpensive" valuation at the moment
Bumble Inc (NASDAQ:BMBL) continues to attract the brokerage bunch. This time, it was Baird that initiated coverage of the equity with an "outperform" rating as well as a $23 price target, with the analyst in question noting its "relatively inexpensive" valuation of late.
The majority of analysts are bullish on Bumble stock, with 10 of the 15 in question carrying a "buy" or better rating. Plus, the 12-month consensus target price of $26.92 is a significant 43% premium to current levels.
Options traders are also firmly optimistic. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 50-day call/put volume ratio of 1.89 sits higher than 95% of readings from the past year, indicating long calls have been more popular than usual.
Short sellers are not deterred, however. Short interest is up 29.6% in most recent reporting period, and the 7.48 million shares sold short now account for 5.8% of the equity's available float.
Last seen up 0.7% at $18.77, the security is bouncing back from its lowest level since May. The 20-day moving average is still keeping a lid on BMBL, which carries a 10.7% year-to-date deficit.