Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) have been assigned an average recommendation of "Hold" from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $9.03.
A number of research firms recently commented on BMBL. Bank of America cut shares of Bumble from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $12.00 to $5.50 in a research note on Thursday, August 8th. 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 objective on the stock. The Goldman Sachs Group cut their target price on Bumble from $18.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. TD Cowen cut Bumble from a "buy" rating to a "hold" rating and lowered their price target for the stock from $22.00 to $7.50 in a research report on Friday, August 16th. Finally, Morgan Stanley cut their price objective on Bumble from $12.00 to $6.00 and set an "equal weight" rating on the stock in a report on Thursday, August 8th.
Get Our Latest Report on Bumble
NASDAQ:BMBL opened at $6.32 on Thursday. The firm has a 50 day moving average of $7.10 and a 200 day moving average of $9.45. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. Bumble has a 52 week low of $4.80 and a 52 week high of $15.90. The stock has a market capitalization of $799.73 million, a price-to-earnings ratio of 37.18 and a beta of 1.66.
Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The firm had revenue of $268.60 million during the quarter, compared to analysts' expectations of $273.04 million. During the same quarter last year, the firm earned $0.05 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Bumble will post 0.83 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bumble in the 2nd quarter worth about $111,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Bumble in the second quarter valued at approximately $1,716,000. Mackenzie Financial Corp acquired a new position in shares of Bumble during the 2nd quarter worth approximately $333,000. The Manufacturers Life Insurance Company lifted its position in shares of Bumble by 17.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company's stock valued at $21,468,000 after buying an additional 297,057 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Bumble in the 2nd quarter valued at $823,000. 94.85% of the stock is owned by hedge funds and other institutional investors.
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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