Bumble Inc. (NASDAQ:BMBL) Receives $9.03 Consensus Target Price from Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have received an average rating of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $8.50.

A number of research analysts have recently commented on BMBL shares. JPMorgan Chase & Co. downgraded Bumble from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $17.00 to $7.00 in a report on Thursday, August 8th. Evercore ISI lowered shares of Bumble from an “outperform” rating to an “inline” rating and dropped their price target for the company from $18.00 to $8.00 in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. BTIG Research downgraded shares of Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Bank of America lowered shares of Bumble from a “buy” rating to an “underperform” rating and cut their price target for the stock from $12.00 to $5.50 in a research note on Thursday, August 8th.

Institutional Trading of Bumble

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of Bumble in the second quarter valued at approximately $64,000. Meeder Asset Management Inc. purchased a new position in Bumble in the 2nd quarter valued at $82,000. Headlands Technologies LLC acquired a new position in Bumble in the 2nd quarter valued at $94,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bumble in the 2nd quarter valued at $111,000. Finally, nVerses Capital LLC raised its position in Bumble by 128.3% during the 2nd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after buying an additional 6,800 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Trading Down 0.8 %

NASDAQ BMBL opened at $6.38 on Thursday. Bumble has a 52 week low of $4.80 and a 52 week high of $15.90. The firm has a 50 day moving average of $6.94 and a two-hundred day moving average of $9.34. The stock has a market capitalization of $805.15 million, a PE ratio of 37.53 and a beta of 1.66. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts expect that Bumble will post 0.83 EPS for the current fiscal year.

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 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.