Bumble (NASDAQ:BMBL) Price Target Lowered to $3.00 at Susquehanna

Bumble (NASDAQ:BMBL) had its price objective cut by investment analysts at Susquehanna from $3.50 to $3.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price objective suggests a potential upside of 5.26% from the company’s previous close.

BMBL has been the subject of a number of other research reports. Citigroup decreased their target price on shares of Bumble from $3.90 to $3.60 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Bumble in a research report on Tuesday. UBS Group increased their price objective on shares of Bumble from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Wednesday, May 6th. The Goldman Sachs Group lowered their price objective on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wall Street Zen upgraded Bumble from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $4.16.

Bumble Stock Down 6.2%

BMBL opened at $2.85 on Friday. The stock’s 50 day moving average price is $2.98 and its 200 day moving average price is $3.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $369.99 million, a P/E ratio of -0.67, a P/E/G ratio of 0.10 and a beta of 1.87. Bumble has a 12 month low of $2.54 and a 12 month high of $7.37.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). Bumble had a positive return on equity of 33.68% and a negative net margin of 58.99%.The business had revenue of $210.53 million for the quarter, compared to analyst estimates of $210.46 million. During the same quarter last year, the firm posted ($2.45) EPS. The company’s revenue was down 15.2% compared to the same quarter last year. As a group, research analysts predict that Bumble will post 1.03 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares in the company, valued at $73,233.72. The trade was a 99.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder – Nq L.L.C. Btoa sold 7,477,500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,954,026 shares of company stock worth $113,182,633. 15.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in shares of Bumble by 409.3% in the 1st quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock valued at $1,410,000 after purchasing an additional 261,281 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Bumble during the 1st quarter worth about $117,000. JPMorgan Chase & Co. lifted its stake in Bumble by 709.1% during the second quarter. JPMorgan Chase & Co. now owns 713,855 shares of the company’s stock valued at $4,704,000 after buying an additional 625,631 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Bumble in the second quarter worth about $392,000. Finally, New York State Common Retirement Fund increased its position in shares of Bumble by 31.1% in the second quarter. New York State Common Retirement Fund now owns 25,631 shares of the company’s stock worth $169,000 after acquiring an additional 6,077 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

About Bumble

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.