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

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

Bumble Price Performance

BMBL traded up $0.02 during trading on Wednesday, hitting $6.00. 4,218,416 shares of the stock traded hands, compared to its average volume of 13,306,741. Bumble has a twelve month low of $2.44 and a twelve month high of $6.00. The company has a market cap of $791.82 million, a price-to-earnings ratio of -1.42 and a beta of 1.67. 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 business has a 50 day moving average price of $3.86 and a 200 day moving average price of $3.39.

Insiders Place Their Bets

In other news, major shareholder – Nq L.L.C. Btoa sold 2,763,510 shares of Bumble stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total value of $9,782,825.40. Following the transaction, the insider owned 13,733 shares in the company, valued at approximately $48,614.82. This trade represents a 99.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings Gp Man Blackstone III sold 2,763,510 shares of the company’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total value of $9,782,825.40. Following the sale, the insider owned 13,733 shares of the company’s stock, valued at approximately $48,614.82. This represents a 99.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,127,851 shares of company stock valued at $83,447,304 over the last ninety days. Company insiders own 15.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 12th. Royal Bank Of Canada lowered their price objective on Bumble from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Wall Street Zen cut Bumble from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company dropped 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. Finally, UBS Group upped their target price on Bumble from $3.00 to $6.05 and gave the company a “neutral” rating in a research report on Wednesday, October 14th. One investment 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 data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $4.12.

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.