Bumble (NASDAQ:BMBL) Price Target Raised to $18.00

Bumble (NASDAQ:BMBL) had its price target increased by research analysts at Evercore ISI from $17.00 to $18.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 75.27% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (down previously from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price target on shares of Bumble in a report on Wednesday, February 28th. BTIG Research decreased their price objective on shares of Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, Susquehanna cut their target price on shares of Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Bumble presently has an average rating of “Moderate Buy” and an average price target of $16.63.

Bumble Stock Down 0.3 %

Shares of NASDAQ:BMBL opened at $10.27 on Thursday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $10.72 and a two-hundred day simple moving average of $12.86. Bumble has a 12-month low of $9.83 and a 12-month high of $21.06. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -342.33, a PEG ratio of 0.28 and a beta of 1.67.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) 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 company had revenue of $273.64 million during the quarter, compared to analysts’ expectations of $275.38 million. On average, research analysts anticipate that Bumble will post 0.66 earnings per share for the current fiscal year.

Insider Activity at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The shares were 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 approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bumble

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Bumble by 3.2% in the third quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock worth $144,921,000 after acquiring an additional 297,286 shares during the period. Wellington Management Group LLP boosted its stake in Bumble by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after purchasing an additional 347,238 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Bumble by 16.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after buying an additional 97,948 shares in the last quarter. Hudson Bay Capital Management LP raised its position in shares of Bumble by 800.0% during the third quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock valued at $6,714,000 after buying an additional 400,000 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of Bumble in the third quarter worth $753,000. 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.