Bumble Inc. (NASDAQ:BMBL) Receives Consensus Recommendation of “Hold” from Analysts

Bumble Inc. (NASDAQ:BMBL) has been given a consensus recommendation of “Hold” by the eighteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.50.

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus downgraded shares of Bumble from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $6.50 in a research note on Thursday, August 8th. Wells Fargo & Company dropped their target price on Bumble from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Wolfe Research initiated coverage on Bumble in a report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price target for the company. Royal Bank of Canada dropped their price objective on Bumble from $16.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, HSBC reaffirmed a “hold” rating on shares of Bumble in a research report on Friday, August 9th.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in Bumble during the 2nd quarter valued at approximately $64,000. Meeder Asset Management Inc. acquired a new position in shares of Bumble during the second quarter worth approximately $82,000. Headlands Technologies LLC acquired a new position in shares of Bumble during the second quarter worth approximately $94,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bumble in the second quarter valued at approximately $111,000. Finally, nVerses Capital LLC grew its stake in shares of Bumble by 128.3% in the second quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after acquiring an additional 6,800 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $6.50 on Thursday. The company has a market cap of $820.29 million, a P/E ratio of 38.24 and a beta of 1.66. The company’s fifty day moving average is $6.84 and its two-hundred day moving average is $9.29. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. Bumble has a 12-month low of $4.80 and a 12-month high of $15.90.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. The business had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Equities analysts expect that Bumble will post 0.83 earnings per share for the current fiscal year.

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.