Bumble (NASDAQ:BMBL) Price Target Raised to $5.50 at Bank of America

Bumble (NASDAQ:BMBL) had its price target lifted by research analysts at Bank of America from $5.25 to $5.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price target indicates a potential downside of 16.03% from the stock’s previous close.

Several other brokerages have also commented on BMBL. UBS Group boosted their price target on shares of Bumble from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Citigroup boosted their target price on shares of Bumble from $4.80 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, June 27th. The Goldman Sachs Group upped their price target on shares of Bumble from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $7.00 price objective (up from $5.00) on shares of Bumble in a report on Thursday, June 26th. Finally, Wells Fargo & Company reiterated a “positive” rating on shares of Bumble in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.97.

Bumble Stock Performance

NASDAQ BMBL opened at $6.55 on Wednesday. The stock has a market capitalization of $676.56 million, a price-to-earnings ratio of -1.34, a PEG ratio of 0.22 and a beta of 1.94. The stock has a 50-day moving average of $5.47 and a 200 day moving average of $5.97. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.75. Bumble has a twelve month low of $3.55 and a twelve month high of $10.05.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Bumble had a negative net margin of 54.06% and a positive return on equity of 5.81%. The business had revenue of $247.10 million during the quarter, compared to analysts’ expectations of $246.68 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Bumble will post 4.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Bumble

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Bumble by 1.4% in the 4th quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock worth $1,262,000 after acquiring an additional 2,157 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Bumble by 11.2% during the 4th quarter. Principal Financial Group Inc. now owns 158,790 shares of the company’s stock valued at $1,293,000 after acquiring an additional 15,958 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Bumble in the fourth quarter valued at about $189,000. QRG Capital Management Inc. increased its position in Bumble by 14.2% during the fourth quarter. QRG Capital Management Inc. now owns 44,126 shares of the company’s stock worth $359,000 after purchasing an additional 5,498 shares during the last quarter. Finally, Aigen Investment Management LP raised its stake in Bumble by 14.2% during the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock worth $253,000 after purchasing an additional 3,853 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.