Bumble Inc. (NASDAQ:BMBL) Stock Has Average Target Price of $4.12 According to Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have earned a consensus recommendation of “Reduce” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $4.12.

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price target on Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group dropped their price target on Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 12th. Wells Fargo & Company reduced their price objective on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Bumble in a report on Thursday, June 25th.

Bumble Price Performance

Shares of Bumble stock opened at $5.94 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65. The firm has a market cap of $783.90 million, a P/E ratio of -1.40 and a beta of 1.88. Bumble has a fifty-two week low of $2.44 and a fifty-two week high of $5.98. The business has a 50-day moving average price of $3.03 and a 200 day moving average price of $3.18.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.09). Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The firm had revenue of $210.53 million for the quarter, compared to analyst estimates of $210.46 million. During the same quarter in the previous year, the company earned ($2.45) EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, sell-side analysts forecast that Bumble will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Bumble

In other news, major shareholder Buzz Holdings L.P. Bcp sold 2,763,510 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total value of $9,782,825.40. Following the transaction, the insider directly owned 13,733 shares in the company, valued at approximately $48,614.82. This trade represents a 99.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder – Nq L.L.C. Btoa sold 2,763,510 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the completion of the transaction, the insider owned 13,733 shares in the company, valued at approximately $48,614.82. The trade was a 99.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,127,851 shares of company stock worth $83,447,304 in the last ninety days. 15.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bumble

Several institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC boosted its stake in Bumble by 10.1% in the second quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock valued at $165,000 after acquiring an additional 4,746 shares during the period. L2 Asset Management LLC acquired a new stake in shares of Bumble during the 2nd quarter worth approximately $42,000. Globeflex Capital L P acquired a new stake in shares of Bumble during the 2nd quarter worth approximately $70,000. Accel Growth Fund V Associates L.L.C. acquired a new stake in shares of Bumble during the 2nd quarter worth approximately $16,174,499. Finally, Bank of New York Mellon Corp bought a new stake in shares of Bumble in the 2nd quarter worth approximately $1,035,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Trending Headlines about Bumble

Here are the key news stories impacting Bumble this week:

• Positive Sentiment: Ithaca acquisition sets a defined exit value: Ithaca Holdco, the long-term holding company for technology businesses, has proposed acquiring Bumble for $6.05 per Class A share in cash. The offer represents an approximately 138% premium to Bumble’s unaffected October 9 closing price and would take the company private. Bumble acquisition announcement
• Positive Sentiment: Merger premium has driven the repricing: The transaction offers investors a substantial premium and limits exposure to Bumble’s standalone challenges, including declining revenue and paying-user pressure. The stock’s proximity to $6.05 suggests investors are largely valuing it on merger completion rather than future operating results. Reuters Bumble take-private report

Bumble Company Profile

Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble’s dating service has historically given women greater control over initiating conversations in heterosexual matches.

The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.