Bumble (NASDAQ:BMBL) Announces Earnings Results, Misses Estimates By $0.03 EPS

Bumble (NASDAQ:BMBL) released its quarterly earnings data on Wednesday. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03), FiscalAI reports. The business had revenue of $207.09 million during the quarter, compared to analysts’ expectations of $209.61 million. Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.

Bumble Price Performance

Shares of NASDAQ:BMBL traded down $0.01 during trading on Thursday, reaching $5.99. The company had a trading volume of 524,201 shares, compared to its average volume of 4,255,857. The firm has a market capitalization of $789.84 million, a PE ratio of -1.41 and a beta of 1.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62. Bumble has a twelve month low of $2.44 and a twelve month high of $6.00. The firm’s fifty day moving average is $3.86 and its 200 day moving average is $3.39.

Insider Transactions at Bumble

In related news, major shareholder – Nq L.L.C. Btoa sold 2,763,510 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the completion of the transaction, the insider owned 13,733 shares of the company’s stock, valued at $48,614.82. This trade represents a 99.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings Gp Man Blackstone III sold 2,763,510 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total transaction of $9,782,825.40. Following the transaction, the insider owned 13,733 shares of the company’s stock, valued at approximately $48,614.82. This trade represents a 99.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 26,127,851 shares of company stock worth $83,447,304. Corporate insiders own 15.35% of the company’s stock.

Analysts Set New Price Targets

BMBL has been the subject of several recent research reports. Royal Bank Of Canada dropped their target price on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a report on Friday, August 7th. UBS Group raised their target price on shares of Bumble from $3.00 to $6.05 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. The Goldman Sachs Group reduced their price target on Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Susquehanna decreased their target price on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Finally, Wells Fargo & Company lowered their price objective 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 analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Bumble has an average rating of “Reduce” and an average price target of $4.12.

About Bumble

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.