Bumble Inc. (NASDAQ:BMBL) Receives Consensus Recommendation of “Hold” from Brokerages

Bumble Inc. (NASDAQ:BMBL) has been given an average recommendation of “Hold” by the nineteen ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.71.

A number of equities research analysts have weighed in on the stock. Citigroup cut their price target on shares of Bumble from $6.80 to $4.80 and set a “neutral” rating for the company in a report on Friday, April 25th. Morgan Stanley cut their price target on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company cut their price target on shares of Bumble from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Piper Sandler cut their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Evercore ISI cut their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th.

Bumble Stock Performance

Shares of BMBL opened at $5.81 on Friday. The firm has a 50-day moving average price of $4.54 and a 200 day moving average price of $6.57. The firm has a market capitalization of $613.22 million, a PE ratio of -1.19 and a beta of 1.76. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble has a 52-week low of $3.55 and a 52-week high of $12.49.

Bumble (NASDAQ:BMBL) last announced its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The company had revenue of $247.10 million during the quarter, compared to the consensus estimate of $246.68 million. Bumble had a negative net margin of 54.19% and a positive return on equity of 3.31%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, sell-side analysts anticipate that Bumble will post 4.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bumble

Large investors have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in shares of Bumble in the 4th quarter valued at about $187,000. Principal Financial Group Inc. increased its holdings in shares of Bumble by 11.2% in the 4th quarter. Principal Financial Group Inc. now owns 158,790 shares of the company’s stock valued at $1,293,000 after purchasing an additional 15,958 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Bumble by 125.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 88,116 shares of the company’s stock valued at $717,000 after purchasing an additional 49,050 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after purchasing an additional 2,760 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Bumble in the 4th quarter valued at about $189,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.