KeyCorp Lowers Bumble (NASDAQ:BMBL) Price Target to $16.00

Bumble (NASDAQ:BMBL) had its target price reduced by equities researchers at KeyCorp from $18.00 to $16.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 55.34% from the company’s current price.

Other research analysts also recently issued reports about the company. Morgan Stanley assumed coverage on Bumble in a research note on Thursday, April 18th. They set an “equal weight” rating and a $13.00 price objective for the company. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. Susquehanna cut their price target on Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research note on Thursday, February 29th. Raymond James restated a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. Finally, BTIG Research cut their target price on Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Bumble currently has a consensus rating of “Moderate Buy” and an average price target of $16.52.

Bumble Price Performance

NASDAQ BMBL opened at $10.30 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.33 billion, a P/E ratio of -343.33, a PEG ratio of 0.28 and a beta of 1.67. The company has a 50-day moving average price of $10.78 and a 200-day moving average price of $12.89. Bumble has a 52 week low of $9.93 and a 52 week high of $21.06.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.31). Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The business had revenue of $273.64 million for the quarter, compared to analysts’ expectations of $275.38 million. Equities research analysts anticipate that Bumble will post 0.66 earnings per share for the current year.

Insider Buying and Selling

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently made changes to their positions in BMBL. Norges Bank purchased a new stake in Bumble in the 4th quarter worth about $16,112,000. Dimensional Fund Advisors LP lifted its stake in shares of Bumble by 39.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after acquiring an additional 1,013,374 shares during the last quarter. Boston Partners purchased a new position in Bumble during the 4th quarter valued at $10,678,000. Vanguard Group Inc. grew its position in Bumble by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock valued at $150,478,000 after acquiring an additional 495,671 shares during the last quarter. Finally, Hudson Bay Capital Management LP increased its stake in Bumble by 800.0% in the third quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock worth $6,714,000 after purchasing an additional 400,000 shares during the period. Institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

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.