Bumble (NASDAQ:BMBL – Get Free Report) was upgraded by investment analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a $14.00 price target on the stock. Bank of America‘s target price would indicate a potential upside of 22.27% from the company’s current price.
Several other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Bumble from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday. Susquehanna decreased their target price on Bumble from $17.00 to $14.00 and set a “positive” rating for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their target price on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Finally, Morgan Stanley initiated coverage on shares of Bumble in a research report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.89.
Read Our Latest Stock Analysis on Bumble
Bumble Price Performance
NASDAQ BMBL opened at $11.45 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. Bumble has a 52 week low of $9.83 and a 52 week high of $21.06. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 67.35, a PEG ratio of 0.32 and a beta of 1.67. The company has a fifty day moving average of $10.71 and a two-hundred day moving average of $12.81.
Bumble (NASDAQ:BMBL – Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 2.04% and a return on equity of 0.91%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. On average, analysts predict that Bumble will post 0.67 earnings per share for the current year.
Insider Activity
In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.84% of the company’s stock.
Institutional Investors Weigh In On Bumble
Several institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC lifted its holdings in shares of Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after purchasing an additional 1,092 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Bumble in the third quarter valued at about $45,000. FNY Investment Advisers LLC acquired a new stake in Bumble in the fourth quarter worth about $68,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Bumble during the third quarter worth about $161,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Bumble during the fourth quarter valued at about $162,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.
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.
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Source: defenseworld.net
