Bumble (NASDAQ:BMBL) Trading Up 4.8% – Here’s Why

Bumble Inc. (NASDAQ:BMBL) shares were up 4.8% during trading on Tuesday . The company traded as high as $7.49 and last traded at $7.47. Approximately 617,856 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,104,581 shares. The stock had previously closed at $7.13.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BMBL. Susquehanna lowered shares of Bumble from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $6.00 in a report on Friday, August 9th. Wolfe Research started coverage on shares of Bumble in a report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Hsbc Global Res lowered Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, TD Cowen lowered Bumble from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $7.50 in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.50.

Bumble Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a fifty day simple moving average of $6.63 and a 200-day simple moving average of $8.76. The firm has a market cap of $918.73 million, a P/E ratio of 41.94 and a beta of 1.66.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. Bumble’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. On average, equities research analysts expect that Bumble Inc. will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Bumble

Several large investors have recently added to or reduced their stakes in BMBL. Capital Management Associates Inc bought a new stake in Bumble during the 3rd quarter worth approximately $74,000. nVerses Capital LLC boosted its position in shares of Bumble by 47.9% during the third quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock valued at $114,000 after buying an additional 5,800 shares during the last quarter. Creative Planning grew its holdings in Bumble by 437.5% during the third quarter. Creative Planning now owns 54,055 shares of the company’s stock worth $345,000 after buying an additional 43,998 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Bumble in the 3rd quarter valued at $71,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bumble during the 2nd quarter valued at $111,000. 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.