Bumble Inc. (NASDAQ:BMBL) Stock Has Consensus Price Target of $3.87 According to Brokerages

Bumble Inc. (NASDAQ:BMBL) has earned a consensus recommendation of “Reduce” from the eighteen research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $3.87.

Several analysts recently weighed in on the company. Wall Street Zen cut Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. The Goldman Sachs Group lowered their price target on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Susquehanna lowered their price objective on Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Bumble in a research report on Tuesday, August 4th. Finally, 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.

Institutional Investors Weigh In On Bumble

A number of institutional investors have recently added to or reduced their stakes in BMBL. Accel Growth Fund V Associates L.L.C. bought a new stake in shares of Bumble in the second quarter worth $16,174,499. Renaissance Technologies LLC grew its holdings in Bumble by 48.6% during the 1st quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after acquiring an additional 1,378,487 shares during the period. Bank of America Corp DE increased its holdings in Bumble by 16.7% in the first quarter. Bank of America Corp DE now owns 1,914,553 shares of the company’s stock worth $6,241,000 after purchasing an additional 274,548 shares in the last quarter. RBF Capital LLC increased its stake in shares of Bumble by 86.9% in the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after acquiring an additional 449,866 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in Bumble by 24.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 731,776 shares of the company’s stock valued at $2,612,000 after purchasing an additional 145,507 shares in the last quarter. 94.85% of the stock is owned by institutional investors.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $2.66 on Monday. 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 company has a market cap of $351.04 million, a PE ratio of -0.63 and a beta of 1.86. Bumble has a twelve month low of $2.54 and a twelve month high of $6.49. The business’s 50 day moving average price is $2.84 and its two-hundred day moving average price is $3.18.

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

Bumble Company Profile

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company’s products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.