Bumble (NASDAQ:BMBL) Stock Rating Lowered by KeyCorp

Bumble (NASDAQ:BMBL) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report released on Friday, Briefing.com reports.

Several other analysts have also commented on BMBL. BTIG Research lowered Bumble from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Bumble from an “overweight” rating to a “neutral” rating and cut their target price for the company from $17.00 to $7.00 in a report on Thursday, August 8th. Stifel Nicolaus downgraded shares of Bumble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.00 to $6.50 in a report on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their target price on shares of Bumble from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.03.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $6.44 on Friday. Bumble has a twelve month low of $4.80 and a twelve month high of $15.90. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45. The company has a market cap of $814.92 million, a PE ratio of 37.88 and a beta of 1.66. The company’s 50 day moving average is $7.04 and its 200 day moving average is $9.42.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. On average, sell-side analysts forecast that Bumble will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in BMBL. Innealta Capital LLC acquired a new stake in shares of Bumble in the 2nd quarter worth $64,000. Meeder Asset Management Inc. acquired a new stake in shares of Bumble during the 2nd quarter worth approximately $82,000. Headlands Technologies LLC purchased a new stake in shares of Bumble during the 2nd quarter valued at approximately $94,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Bumble in the second quarter valued at approximately $111,000. Finally, Neo Ivy Capital Management purchased a new position in Bumble in the fourth quarter worth approximately $162,000. 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.