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

Shares of Bumble Inc. (NASDAQ:BMBL) have been given an average rating of “Hold” by the eighteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.50.

BMBL has been the topic of several research reports. KeyCorp lowered shares of Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. BTIG Research downgraded shares of Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded shares of Bumble from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $17.00 to $7.00 in a report on Thursday, August 8th. Citigroup downgraded Bumble from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $12.00 to $6.00 in a research note on Thursday, August 8th. Finally, Wolfe Research began coverage on Bumble in a report on Tuesday, July 16th. They issued an “outperform” rating and a $14.00 target price on the stock.

Bumble Stock Performance

BMBL stock opened at $7.11 on Monday. The firm has a market cap of $897.27 million, a PE ratio of 41.82 and a beta of 1.66. 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 stock has a 50-day moving average price of $6.59 and a 200-day moving average price of $8.85. Bumble has a 1-year low of $4.80 and a 1-year high of $15.90.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, equities research analysts expect that Bumble will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Bumble

Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new position in Bumble during the second quarter valued at $24,121,000. Vanguard Group Inc. grew its stake in shares of Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares during the period. Archon Capital Management LLC bought a new stake in Bumble in the 1st quarter valued at about $6,370,000. Joho Capital LLC bought a new stake in Bumble in the 1st quarter valued at about $6,242,000. Finally, Edgestream Partners L.P. purchased a new stake in Bumble during the first quarter valued at about $4,563,000. Hedge funds and other institutional investors 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.