Bumble (NASDAQ:BMBL) Given New $4.00 Price Target at Royal Bank Of Canada

Bumble (NASDAQ:BMBL) had its price target reduced by equities research analysts at Royal Bank Of Canada from $5.00 to $4.00 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 42.10% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Wall Street Zen upgraded Bumble from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Wells Fargo & Company decreased their target price on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday. UBS Group boosted their price target on shares of Bumble from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Bumble in a research report on Tuesday. Finally, The Goldman Sachs Group decreased their price objective on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $3.99.

Bumble Stock Performance

Shares of NASDAQ:BMBL traded down $0.04 during trading on Friday, hitting $2.81. 1,270,280 shares of the stock traded hands, compared to its average volume of 3,560,501. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $2.98 and a two-hundred day moving average price of $3.27. Bumble has a 52-week low of $2.54 and a 52-week high of $7.37. The company has a market cap of $365.44 million, a price-to-earnings ratio of -0.67, a P/E/G ratio of 0.10 and a beta of 1.87.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). The business had revenue of $210.53 million for the quarter, compared to analyst estimates of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 33.68%. Bumble’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business earned ($2.45) earnings per share. As a group, equities analysts predict that Bumble will post 1.03 EPS for the current year.

Insider Activity at Bumble

In other news, major shareholder Buzz Holdings L.P. Bcp sold 7,477,500 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder – Nq L.L.C. Btoa sold 7,477,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,954,026 shares of company stock worth $113,182,633 over the last 90 days. Corporate insiders own 15.35% of the company’s stock.

Hedge Funds Weigh In On Bumble

Institutional investors have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. grew its holdings in Bumble by 52.6% during the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock worth $19,055,000 after acquiring an additional 1,838,923 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Bumble by 48.6% during the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after purchasing an additional 1,378,487 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Bumble in the fourth quarter valued at $3,516,000. Cubist Systematic Strategies LLC increased its holdings in Bumble by 3,714.4% in the second quarter. Cubist Systematic Strategies LLC now owns 923,093 shares of the company’s stock valued at $6,083,000 after buying an additional 898,893 shares during the last quarter. Finally, Barclays PLC raised its stake in Bumble by 137.7% in the third quarter. Barclays PLC now owns 1,380,934 shares of the company’s stock valued at $8,410,000 after buying an additional 799,947 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

About Bumble

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.