Bumble (NASDAQ:BMBL) Hits New 12-Month High – Still a Buy?

Bumble Inc. (NASDAQ:BMBL) shares reached a new 52-week high during trading on Tuesday. The stock traded as high as $5.98 and last traded at $5.9930, with a volume of 1,710,112 shares changing hands. The stock had previously closed at $5.97.

Wall Street Analysts Forecast Growth

BMBL has been the topic of several research reports. Wall Street Zen cut Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group boosted their target price on Bumble from $3.00 to $6.05 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Weiss Ratings raised Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 12th. The Goldman Sachs Group cut their price target on Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. Finally, Wells Fargo & Company cut their price target on Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $4.12.

Bumble Stock Up 0.2%

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.62 and a quick ratio of 1.62. The company’s 50-day simple moving average is $3.41 and its 200 day simple moving average is $3.30. The firm has a market cap of $789.18 million, a P/E ratio of -1.41 and a beta of 1.88.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The company had revenue of $210.53 million for the quarter, compared to analysts’ expectations of $210.46 million. During the same quarter last year, the company earned ($2.45) earnings per share. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Research analysts anticipate that Bumble Inc. will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider owned 16,120 shares of the company’s stock, valued at $47,392.80. This represents a 99.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder – Nq L.L.C. Btoa sold 3,767,776 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the sale, the insider owned 16,120 shares in the company, valued at approximately $47,392.80. The trade was a 99.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,127,851 shares of company stock worth $83,447,304 in the last 90 days. 15.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Bumble

Several large investors have recently added to or reduced their stakes in BMBL. Oppenheimer & Co. Inc. boosted its holdings in shares of Bumble by 109.9% in the third quarter. Oppenheimer & Co. Inc. now owns 40,100 shares of the company’s stock valued at $105,000 after purchasing an additional 21,000 shares during the period. Ramsey Quantitative Systems grew its stake in Bumble by 46.5% in the third quarter. Ramsey Quantitative Systems now owns 41,900 shares of the company’s stock worth $110,000 after purchasing an additional 13,300 shares in the last quarter. Seven Mile Advisory bought a new stake in Bumble during the 3rd quarter valued at $40,000. Headlands Technologies LLC raised its position in Bumble by 10.1% during the 2nd quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock valued at $165,000 after purchasing an additional 4,746 shares in the last quarter. Finally, L2 Asset Management LLC bought a new stake in Bumble during the 2nd quarter valued at $42,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Company Profile

Bumble Inc is a technology company that operates online dating and social networking platforms. Its flagship Bumble app is designed to help people make romantic connections, while emphasizing user control and safety in the online dating experience.

The company also operates Badoo, a dating platform with an international user base, and offers services focused on friendship and social connections through Bumble-branded products. Its platforms provide features such as profile discovery, matching, messaging, and paid options intended to enhance users’ experiences.

Founded in 2014 by Whitney Wolfe Herd, Bumble has expanded from its initial focus on dating to a broader range of personal-connection services.