Bumble Inc. (NASDAQ:BMBL) Stock Has Consensus Target Price of $4.04 According to Brokerages

Bumble Inc. (NASDAQ:BMBL) has earned an average rating of “Reduce” from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.04.

Several equities analysts have weighed in on the company. Weiss Ratings raised Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 12th. Susquehanna lowered their price target on Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company decreased their price objective on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada dropped their target price on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Friday, August 7th. Finally, UBS Group boosted their price objective on Bumble from $3.00 to $6.05 and gave the stock a “neutral” rating in a research note on Wednesday, October 14th.

Insider Buying and Selling at Bumble

In other news, major shareholder Holdings Gp Man Blackstone III sold 3,767,776 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider owned 16,120 shares of the company’s stock, valued at approximately $47,392.80. This trade represents a 99.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder – Nq L.L.C. Btoa sold 3,767,776 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the sale, the insider owned 16,120 shares of the company’s stock, valued at $47,392.80. This represents a 99.57% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 26,127,851 shares of company stock valued at $83,447,304. 15.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bumble

Several large investors have recently made changes to their positions in BMBL. Accel Growth Fund V Associates L.L.C. acquired a new position in Bumble during the second quarter worth approximately $16,174,499. Renaissance Technologies LLC raised its stake in Bumble by 48.6% in the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock valued at $13,737,000 after purchasing an additional 1,378,487 shares in the last quarter. Bank of America Corp DE raised its position in Bumble by 16.7% during the first quarter. Bank of America Corp DE now owns 1,914,553 shares of the company’s stock valued at $6,241,000 after purchasing an additional 274,548 shares in the last quarter. RBF Capital LLC lifted its position in shares of Bumble by 86.9% during the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock worth $3,154,000 after buying an additional 449,866 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Bumble in the 1st quarter valued at $2,039,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

Bumble Stock Performance

BMBL opened at $6.01 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.58. Bumble has a twelve month low of $2.44 and a twelve month high of $6.04. The business’s 50 day moving average is $4.25 and its 200-day moving average is $3.46. The stock has a market cap of $793.14 million, a PE ratio of -1.38 and a beta of 1.67.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $207.09 million during the quarter, compared to analyst estimates of $209.61 million. Bumble had a negative net margin of 62.87% and a positive return on equity of 39.04%. On average, analysts predict that Bumble will post -0.08 earnings per share for the current year.

Bumble Company Profile

Bumble Inc. operates online dating and social networking platforms, including Bumble, Badoo and Bumble For Friends. Its apps help users meet potential romantic partners, make friends and build social connections, with services available in markets around the world. The Bumble dating app launched in 2014, founded by Whitney Wolfe Herd. It became known for a design in which women initiate conversations in heterosexual matches; the company has since introduced additional ways for users to start conversations.