Brokerages Set Bumble Inc. (NASDAQ:BMBL) Price Target at $15.22

Shares of Bumble Inc. (NASDAQ:BMBL) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $14.96.

Several research analysts recently weighed in on BMBL shares. Citigroup dropped their target price on shares of Bumble from $14.00 to $12.00 and set a “buy” rating for the company in a report on Monday, July 15th. Bank of America raised Bumble from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, May 10th. Morgan Stanley decreased their target price on Bumble from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group reduced their price objective on shares of Bumble from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Evercore ISI upped their target price on shares of Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th.

Bumble Stock Performance

Shares of NASDAQ BMBL opened at $8.82 on Friday. The firm has a 50 day moving average of $10.66 and a 200 day moving average of $11.57. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 51.88 and a beta of 1.70. Bumble has a 12-month low of $8.70 and a 12-month high of $19.98.

Bumble (NASDAQ:BMBL) last announced its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.12. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The company had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Bumble will post 0.9 earnings per share for the current year.

Insider Transactions at Bumble

In other news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the sale, the director now directly owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Bumble by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after purchasing an additional 297,286 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Bumble by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after purchasing an additional 347,238 shares during the last quarter. Jump Financial LLC increased its position in shares of Bumble by 1,895.5% during the 4th quarter. Jump Financial LLC now owns 222,396 shares of the company’s stock valued at $3,278,000 after purchasing an additional 211,251 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Bumble by 16.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after purchasing an additional 97,948 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Bumble during the 1st quarter valued at approximately $937,000. 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.