Bumble Inc. (NASDAQ:BMBL) Receives $8.50 Average PT from Brokerages

Bumble Inc. (NASDAQ:BMBL) has been given a consensus rating of “Hold” by the eighteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.50.

Several research analysts have weighed in on BMBL shares. Royal Bank of Canada cut their price target on Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America lowered shares of Bumble from a “buy” rating to an “underperform” rating and decreased their price target for the company from $12.00 to $5.50 in a report on Thursday, August 8th. Morgan Stanley dropped their price objective on Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Citigroup cut Bumble from a “buy” rating to a “neutral” rating and reduced their target price for the company from $12.00 to $6.00 in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BMBL. Innealta Capital LLC acquired a new position in shares of Bumble during the second quarter worth about $64,000. SG Americas Securities LLC acquired a new position in shares of Bumble in the third quarter worth about $71,000. Capital Management Associates Inc acquired a new position in shares of Bumble in the third quarter worth about $74,000. Meeder Asset Management Inc. acquired a new position in shares of Bumble in the second quarter worth about $82,000. Finally, Headlands Technologies LLC acquired a new position in shares of Bumble in the second quarter worth about $94,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Up 0.8 %

Shares of NASDAQ:BMBL opened at $7.29 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $919.99 million, a P/E ratio of 42.88 and a beta of 1.66. Bumble has a 52-week low of $4.80 and a 52-week high of $15.90. The stock’s fifty day simple moving average is $6.53 and its 200-day simple moving average is $8.87.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. As a group, equities research analysts forecast that Bumble will post 0.77 earnings per share 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.