Bumble (NASDAQ:BMBL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Bumble (NASDAQ:BMBL) had its price objective raised by stock analysts at The Goldman Sachs Group from $8.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 58.17% from the stock’s previous close.

Several other equities research analysts also recently issued reports on BMBL. JPMorgan Chase & Co. decreased their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup reduced their target price on shares of Bumble from $6.80 to $4.80 and set a “neutral” rating for the company in a research note on Friday, April 25th. Royal Bank of Canada dropped their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley cut their price target on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Bumble from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.75.

Bumble Stock Up 2.3 %

Bumble stock opened at $5.69 on Thursday. The firm has a market capitalization of $600.56 million, a price-to-earnings ratio of -1.16 and a beta of 1.76. The firm’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $6.61. Bumble has a 1-year low of $3.55 and a 1-year high of $12.49. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BMBL. FNY Investment Advisers LLC bought a new stake in Bumble in the 4th quarter valued at about $56,000. Tower Research Capital LLC TRC raised its position in shares of Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Bumble by 56.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after buying an additional 4,000 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Bumble in the 1st quarter worth approximately $49,000. Finally, Corient Private Wealth LLC purchased a new position in Bumble in the 4th quarter valued at approximately $97,000. Hedge funds and other 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.