Bumble (NASDAQ:BMBL) Price Target Cut to $8.00 by Analysts at KeyCorp

Bumble (NASDAQ:BMBL) had its target price lowered by KeyCorp from $11.00 to $8.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also commented on BMBL. Hsbc Global Res lowered Bumble from a strong-buy rating to a hold rating in a report on Friday, August 9th. Wells Fargo & Company reduced their target price on Bumble from $10.00 to $7.00 and set an equal weight rating for the company in a report on Thursday, August 8th. Wolfe Research started coverage on Bumble in a research note on Tuesday, July 16th. They issued an outperform rating and a $14.00 target price on the stock. Morgan Stanley lowered their price target on Bumble from $12.00 to $6.00 and set an equal weight rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI cut Bumble from an outperform rating to an inline rating and reduced their price objective for the company from $18.00 to $8.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $9.62.

Bumble Stock Up 1.7 %

Shares of NASDAQ:BMBL opened at $6.00 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market capitalization of $757.19 million, a PE ratio of 35.29 and a beta of 1.70. Bumble has a 52-week low of $4.80 and a 52-week high of $17.31. The company has a fifty day moving average of $9.08 and a 200-day moving average of $10.69.

Bumble (NASDAQ:BMBL) last issued its quarterly 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. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm had revenue of $268.60 million for the quarter, compared to the consensus estimate of $273.04 million. During the same quarter in the previous year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts predict that Bumble will post 0.9 EPS for the current fiscal year.

Insider Activity

In related news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the sale, the director now owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently bought and sold shares of BMBL. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bumble by 17.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,355 shares of the company’s stock valued at $1,700,000 after purchasing an additional 16,869 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Bumble by 16.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after acquiring an additional 97,948 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Bumble by 24.2% in the fourth quarter. Handelsbanken Fonder AB now owns 15,400 shares of the company’s stock valued at $227,000 after purchasing an additional 3,000 shares during the period. New York State Common Retirement Fund grew its stake in Bumble by 5.6% during the 4th quarter. New York State Common Retirement Fund now owns 151,449 shares of the company’s stock worth $2,232,000 after purchasing an additional 8,097 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,092 shares during the period. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

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.