UBS Group Cuts Bumble (NASDAQ:BMBL) Price Target to $3.00

Bumble (NASDAQ:BMBL) had its price target cut by investment analysts at UBS Group from $4.50 to $3.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 8.46% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup reduced their target price on shares of Bumble from $3.90 to $3.60 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Royal Bank Of Canada lowered their price target on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, August 7th. Raymond James Financial reiterated a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Bumble in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Bumble from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Bumble presently has a consensus rating of “Reduce” and an average target price of $3.87.

Bumble Price Performance

Shares of Bumble stock opened at $2.77 on Wednesday. Bumble has a one year low of $2.54 and a one year high of $7.37. The stock’s fifty day moving average is $2.96 and its 200 day moving average is $3.25. The stock has a market cap of $359.08 million, a P/E ratio of -0.66, a P/E/G ratio of 0.15 and a beta of 1.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.22 and a current ratio of 1.22.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share 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 33.68%. The company had revenue of $210.53 million for the quarter, compared to analysts’ expectations of $210.46 million. During the same quarter last year, the firm posted ($2.45) earnings per share. Bumble’s revenue for the quarter was down 15.2% on a year-over-year basis. Sell-side analysts anticipate that Bumble will post 0.62 earnings per share for the current year.

Insider Buying and Selling at Bumble

In related news, Director Ann Mather sold 22,013 shares of Bumble stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $2.79, for a total value of $61,416.27. Following the completion of the sale, the director directly owned 117,853 shares in the company, valued at $328,809.87. This trade represents a 15.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Buzz Holdings L.P. Bcp sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was 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 in the company, valued at approximately $73,233.72. This represents a 99.74% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,954,026 shares of company stock valued at $113,182,633. Insiders own 15.35% of the company’s stock.

Hedge Funds Weigh In On Bumble

Several hedge funds have recently made changes to their positions in BMBL. Wexford Capital LP purchased a new position in shares of Bumble during the third quarter worth $31,000. EFG International AG acquired a new position in shares of Bumble in the fourth quarter worth about $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Bumble during the 4th quarter worth about $36,000. StoneX Group Inc. purchased a new stake in shares of Bumble during the 4th quarter worth about $36,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Bumble during the 4th quarter valued at about $37,000. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Company Profile

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.