The Goldman Sachs Group Issues Pessimistic Forecast for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price target decreased by investment analysts at The Goldman Sachs Group from $5.00 to $3.50 in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 15.13% from the company’s previous close.

BMBL has been the topic of several other research reports. UBS Group boosted their price objective on shares of Bumble from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $5.00 price objective on shares of Bumble in a research report on Wednesday, May 6th. Wall Street Zen upgraded Bumble from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Bumble in a report on Tuesday. Finally, Raymond James Financial reissued a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Bumble presently has an average rating of “Reduce” and a consensus price target of $4.20.

Bumble Stock Down 5.0%

BMBL opened at $3.04 on Thursday. Bumble has a 1-year low of $2.54 and a 1-year high of $7.95. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $394.65 million, a price-to-earnings ratio of -0.52, a P/E/G ratio of 0.10 and a beta of 1.87. The business has a 50 day moving average of $2.98 and a 200-day moving average of $3.27.

Bumble (NASDAQ:BMBL) last announced its earnings results 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). The company had revenue of $210.53 million for the quarter, compared to the consensus estimate of $210.46 million. Bumble had a positive return on equity of 32.66% and a negative net margin of 72.04%.The company’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm posted ($2.45) EPS. As a group, sell-side analysts anticipate that Bumble will post 1.03 earnings per share for the current year.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares in the company, valued at $73,233.72. The trade was a 99.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $28,264,950.00. Following the transaction, the insider directly owned 19,374 shares in the company, valued at $73,233.72. This trade represents a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,954,026 shares of company stock worth $113,182,633. 15.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMBL. Saba Capital Management L.P. grew its holdings in shares of Bumble by 52.6% in the 4th quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock valued at $19,055,000 after buying an additional 1,838,923 shares during the period. Renaissance Technologies LLC lifted its holdings in 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 acquiring an additional 1,378,487 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Bumble during the fourth quarter worth about $3,516,000. Cubist Systematic Strategies LLC grew its stake 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 acquiring an additional 898,893 shares during the period. Finally, Barclays PLC increased its holdings in shares of Bumble by 137.7% in the third quarter. Barclays PLC now owns 1,380,934 shares of the company’s stock worth $8,410,000 after acquiring an additional 799,947 shares in the last quarter. 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.