Bumble Inc. (NASDAQ:BMBL) Receives Consensus Rating of “Hold” from Analysts

Bumble Inc. (NASDAQ:BMBL) has been assigned an average rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $8.50.

Several research firms have recently weighed in on BMBL. Royal Bank of Canada decreased their price target on shares of Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wolfe Research began coverage on Bumble in a report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 target price on the stock. Hsbc Global Res cut Bumble from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. TD Cowen lowered Bumble from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $7.50 in a research note on Friday, August 16th. Finally, Bank of America cut Bumble from a “buy” rating to an “underperform” rating and dropped their target price for the company from $12.00 to $5.50 in a report on Thursday, August 8th.

Institutional Trading of Bumble

Several hedge funds have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Bumble during the 2nd quarter worth approximately $64,000. Meeder Asset Management Inc. purchased a new stake in shares of Bumble during the second quarter worth $82,000. Headlands Technologies LLC acquired a new stake in shares of Bumble in the second quarter valued at $94,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bumble in the second quarter valued at $111,000. Finally, nVerses Capital LLC grew its stake in Bumble by 128.3% during the 2nd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after purchasing an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Performance

BMBL opened at $6.38 on Thursday. The company has a market cap of $805.15 million, a price-to-earnings ratio of 37.53 and a beta of 1.66. The firm’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $9.34. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. Bumble has a 52-week low of $4.80 and a 52-week high of $15.90.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The company had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. During the same period in the previous year, the firm posted $0.05 EPS. Bumble’s revenue was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Bumble will post 0.83 earnings per share for the current fiscal year.

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.