The Goldman Sachs Group Lowers Bumble (NASDAQ:BMBL) Price Target to $15.00

Bumble (NASDAQ:BMBL) had its price target cut by equities research analysts at The Goldman Sachs Group from $18.00 to $15.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 46.06% from the company’s current price.

A number of other equities analysts have also weighed in on BMBL. Royal Bank of Canada reissued an “outperform” rating and issued a $16.00 target price on shares of Bumble in a research report on Wednesday, February 28th. Morgan Stanley began coverage on shares of Bumble in a report on Thursday, April 18th. They set an “equal weight” rating and a $13.00 price objective for the company. KeyCorp dropped their target price on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Susquehanna lowered their price target on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Bumble currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.27.

Bumble Price Performance

Shares of BMBL opened at $10.27 on Thursday. Bumble has a twelve month low of $9.83 and a twelve month high of $21.06. The company has a market capitalization of $1.33 billion, a P/E ratio of -342.33, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67. The firm has a 50 day moving average of $10.71 and a 200 day moving average of $12.85. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The business had revenue of $267.80 million for the quarter, compared to the consensus estimate of $265.41 million. During the same period last year, the business posted ($0.01) EPS. The company’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Bumble will post 0.66 earnings per share for the current fiscal year.

Insider Activity

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

Several large investors have recently made changes to their positions in the business. Entropy Technologies LP bought a new stake in Bumble during the 1st quarter valued at approximately $175,000. ProShare Advisors LLC boosted its stake in Bumble by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after purchasing an additional 1,430 shares during the period. SG Americas Securities LLC grew its holdings in Bumble by 94.9% during the 1st quarter. SG Americas Securities LLC now owns 45,482 shares of the company’s stock valued at $516,000 after buying an additional 22,146 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Bumble during the first quarter valued at approximately $558,000. Finally, Duality Advisers LP purchased a new position in shares of Bumble in the first quarter worth $1,049,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Bumble Company Profile

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.