Bumble Inc. (NASDAQ:BMBL) Given Average Recommendation of "Hold" by Brokerages

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) have earned an average recommendation of "Hold" from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $6.75.

Several equities analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on Bumble from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada reduced their price target on Bumble from $7.00 to $5.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Morgan Stanley lowered their target price on Bumble from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Piper Sandler dropped their price objective on Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Finally, Susquehanna lowered their target price on shares of Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, March 7th.

Bumble Stock Up 1.3%

NASDAQ BMBL traded up $0.08 during trading on Friday, hitting $5.93. 1,000,029 shares of the company traded hands, compared to its average volume of 3,123,199. Bumble has a 12 month low of $3.55 and a 12 month high of $12.49. The business has a fifty day simple moving average of $4.51 and a 200 day simple moving average of $6.59. The company has a market capitalization of $625.36 million, a P/E ratio of -1.21 and a beta of 1.76. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Bumble had a negative net margin of 54.19% and a positive return on equity of 3.31%. The company had revenue of $247.10 million for the quarter, compared to analyst estimates of $246.68 million. During the same quarter last year, the business earned $0.19 EPS. The company's revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Bumble will post 4.19 EPS for the current year.

Hedge Funds Weigh In On Bumble

A number of hedge funds and other institutional investors have recently made changes to their positions in BMBL. JPMorgan Chase & Co. raised its holdings in Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company's stock worth $841,000 after purchasing an additional 2,760 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Bumble in the fourth quarter valued at $56,000. SG Americas Securities LLC boosted its position in Bumble by 189.2% during the fourth quarter. SG Americas Securities LLC now owns 32,107 shares of the company's stock valued at $261,000 after acquiring an additional 21,006 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Bumble during the 4th quarter worth about $214,000. Finally, Westbourne Investment Advisors Inc. raised its position in shares of Bumble by 18.4% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company's stock worth $3,960,000 after acquiring an additional 75,635 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

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.