Analysts Set Bumble Inc. (NASDAQ:BMBL) PT at $8.50

Shares of Bumble Inc. (NASDAQ:BMBL) have earned a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.50.

BMBL has been the topic of a number of research analyst reports. KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Susquehanna downgraded shares of Bumble from a “positive” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $6.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bumble from $11.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. BTIG Research downgraded Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Finally, Piper Sandler lowered their target price on Bumble from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Bumble Stock Performance

NASDAQ:BMBL opened at $7.11 on Monday. The firm’s fifty day simple moving average is $6.62 and its 200-day simple moving average is $8.79. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The stock has a market cap of $897.27 million, a PE ratio of 41.82 and a beta of 1.66. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.90.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts expect that Bumble will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bumble

Several hedge funds have recently modified their holdings of BMBL. Point72 Asset Management L.P. acquired a new position in Bumble during the second quarter worth approximately $24,121,000. Vanguard Group Inc. raised its position in shares of Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after buying an additional 613,759 shares during the period. Archon Capital Management LLC acquired a new position in Bumble in the first quarter valued at $6,370,000. Joho Capital LLC purchased a new stake in Bumble during the first quarter valued at about $6,242,000. Finally, Edgestream Partners L.P. acquired a new stake in Bumble during the first quarter worth about $4,563,000. 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.