Bumble (NASDAQ:BMBL) Issues Earnings Results

Bumble (NASDAQ:BMBL) released its quarterly earnings results on Wednesday. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.12, Briefing.com reports. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The firm had revenue of $267.80 million for the quarter, compared to analysts’ expectations of $265.41 million. During the same period in the prior year, the firm earned ($0.01) EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Bumble updated its Q2 2024 guidance to EPS and its FY 2024 guidance to EPS.

Bumble Trading Up 9.8 %

NASDAQ:BMBL traded up $1.01 during mid-day trading on Thursday, hitting $11.28. 6,055,664 shares of the company’s stock were exchanged, compared to its average volume of 2,942,958. The company has a 50 day simple moving average of $10.71 and a 200-day simple moving average of $12.85. The firm has a market capitalization of $1.46 billion, a P/E ratio of -364.67, a PEG ratio of 0.28 and a beta of 1.67. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. Bumble has a fifty-two week low of $9.83 and a fifty-two week high of $21.06.

Wall Street Analyst Weigh In

BMBL has been the subject of several recent research reports. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target (down previously from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. Susquehanna reduced their price target on shares of Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research report on Thursday, February 29th. Morgan Stanley began coverage on shares of Bumble in a research note on Thursday, April 18th. They set an “equal weight” rating and a $13.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 price target on shares of Bumble in a research report on Wednesday, February 28th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.05.

Insider Activity at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated 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 this link. 7.84% of the stock is currently owned by insiders.

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.