Bumble (NASDAQ:BMBL) PT Lowered to $15.00

Bumble (NASDAQ:BMBL) had its target price reduced by equities research analysts at The Goldman Sachs Group from $18.00 to $15.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 46.06% from the company’s current price.

Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. cut their price target on Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Susquehanna dropped their price objective on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (down from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. KeyCorp dropped their price target on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Raymond James reissued a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.27.

Bumble Trading 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. Bumble has a 12-month low of $9.83 and a 12-month high of $21.06. The business has a 50 day moving average of $10.71 and a two-hundred day moving average of $12.85. The company has a market capitalization of $1.33 billion, a PE ratio of -342.33, a PEG ratio of 0.28 and a beta of 1.67.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.12. The firm had revenue of $267.80 million during the quarter, compared to analysts’ expectations of $265.41 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. As a group, analysts forecast that Bumble will post 0.66 EPS for the current year.

Insider Transactions at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Bumble by 3.2% during the third quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock worth $144,921,000 after purchasing an additional 297,286 shares during the period. Wellington Management Group LLP increased its holdings in shares of Bumble by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after buying an additional 347,238 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 during the period. Hudson Bay Capital Management LP lifted its holdings in Bumble by 800.0% in the third quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock valued at $6,714,000 after acquiring an additional 400,000 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new position in Bumble in the third quarter worth approximately $753,000. 94.85% of the stock is owned by institutional investors and hedge funds.

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.