Royal Bank Of Canada Reiterates “Sector Perform” Rating for Bumble (NASDAQ:BMBL)

Bumble (NASDAQ:BMBLGet Free Report)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Thursday,Benzinga reports. They presently have a $5.00 price objective on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 32.63% from the company’s previous close.

BMBL has been the topic of several other research reports. Morgan Stanley raised their target price on Bumble from $3.50 to $4.00 and gave the company an “equal weight” rating in a research report on Thursday. Jefferies Financial Group dropped their price target on Bumble from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bumble in a research note on Monday, December 29th. Citigroup raised their price objective on Bumble from $3.80 to $3.90 and gave the company a “neutral” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised shares of Bumble from an “underweight” rating to a “neutral” rating in a research note on Thursday. Fourteen analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bumble has a consensus rating of “Reduce” and an average price target of $4.34.

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Bumble Stock Down 1.0%

BMBL opened at $3.77 on Thursday. The company has a market cap of $425.03 million, a PE ratio of -0.62, a price-to-earnings-growth ratio of 0.13 and a beta of 1.96. Bumble has a twelve month low of $2.61 and a twelve month high of $8.64. The company has a 50-day moving average price of $3.26 and a 200 day moving average price of $4.39. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 0.97.

Bumble (NASDAQ:BMBLGet Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.79. Bumble had a positive return on equity of 22.13% and a negative net margin of 72.74%.The company had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $221.45 million. During the same period in the previous year, the firm posted $0.17 EPS. Bumble’s revenue was down 14.3% compared to the same quarter last year. Sell-side analysts expect that Bumble will post 4.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in BMBL. Maple Rock Capital Partners Inc. acquired a new stake in shares of Bumble in the second quarter valued at approximately $30,127,000. Vanguard Group Inc. boosted its stake in Bumble by 52.0% during the third quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock worth $67,989,000 after buying an additional 3,820,205 shares during the last quarter. Saba Capital Management L.P. grew its holdings in Bumble by 52.6% in the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock valued at $19,055,000 after buying an additional 1,838,923 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Bumble in the 3rd quarter worth $6,013,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Bumble in the 4th quarter worth $3,516,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

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Bumble Company Profile

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Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.

Further Reading

Analyst Recommendations for Bumble (NASDAQ:BMBL)

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