Royal Bank of Canada Cuts Bumble (NASDAQ:BMBL) Price Target to $5.00

Bumble (NASDAQ:BMBL) had its target price cut by Royal Bank of Canada from $7.00 to $5.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. Morgan Stanley cut their price target on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company reduced their price target on shares of Bumble from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Piper Sandler reduced their target price on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group lifted their price target on Bumble from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.75.

Bumble Stock Up 2.3 %

BMBL opened at $5.69 on Thursday. The company has a fifty day moving average of $4.46 and a two-hundred day moving average of $6.60. The stock has a market capitalization of $600.56 million, a price-to-earnings ratio of -1.16 and a beta of 1.76. Bumble has a fifty-two week low of $3.55 and a fifty-two week high of $12.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The business had revenue of $247.10 million during the quarter, compared to analyst estimates of $246.68 million. During the same period in the previous year, the company posted $0.19 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, research analysts expect that Bumble will post 4.19 earnings per share for the current year.

Hedge Funds Weigh In On Bumble

Several institutional investors and hedge funds have recently bought and sold shares of BMBL. RPD Fund Management LLC purchased a new stake in shares of Bumble during the 4th quarter valued at approximately $30,940,000. Ameriprise Financial Inc. raised its position in Bumble by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after purchasing an additional 1,298,630 shares during the period. Federated Hermes Inc. acquired a new position in shares of Bumble in the 1st quarter valued at $3,231,000. RBF Capital LLC purchased a new position in shares of Bumble during the 4th quarter worth $5,157,000. Finally, First Trust Advisors LP increased its position in shares of Bumble by 429.5% during the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock worth $6,287,000 after purchasing an additional 626,528 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.