Bumble Inc. (NASDAQ:BMBL) Receives $6.63 Average Price Target from Analysts

Key Points

• Analysts have given Bumble Inc. (NASDAQ:BMBL) an average recommendation of "Hold", with two sell ratings, ten holds, and three buy recommendations.
• Major shareholder Nq L.L.C. Btoa and another significant shareholder sold 16.7 million shares each at an average price of $6.26, totaling over $104 million in transactions.
• Bumble reported $0.64 earnings per share for the last quarter, exceeding estimates, despite a 7.6% decline in revenue year-over-year.

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) have been given an average recommendation of "Hold" by the fifteen research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.6250.

Several research analysts have issued reports on the company. Royal Bank Of Canada increased their price target on Bumble from $7.00 to $7.50 and gave the stock an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $5.00 target price on shares of Bumble in a report on Tuesday, June 3rd. Zacks Research upgraded Bumble to a "hold" rating in a report on Friday, August 8th. Susquehanna restated a "neutral" rating and issued a $7.00 target price (up previously from $5.00) on shares of Bumble in a report on Monday, August 11th. Finally, Wells Fargo & Company restated a "positive" rating on shares of Bumble in a report on Friday, June 27th.

Insider Activity at Bumble

In related news, major shareholder Holdings Gp Man Blackstone III sold 16,689,884 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Insiders sold a total of 68,124,652 shares of company stock valued at $426,460,322 in the last ninety days. Insiders own 15.84% of the company's stock.

Institutional Trading of Bumble

A number of institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP purchased a new stake in Bumble in the fourth quarter worth $476,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Bumble by 26.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company's stock worth $1,887,000 after buying an additional 48,207 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Bumble in the fourth quarter worth $2,042,000. Envestnet Asset Management Inc. increased its position in Bumble by 125.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 88,116 shares of the company's stock worth $717,000 after buying an additional 49,050 shares during the last quarter. Finally, Man Group plc purchased a new stake in Bumble in the fourth quarter worth $334,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Stock Down 1.2%

NASDAQ:BMBL traded down $0.08 on Friday, hitting $6.44. The stock had a trading volume of 2,886,419 shares, compared to its average volume of 4,596,483. The business's fifty day moving average is $6.67 and its 200 day moving average is $5.77. The company has a market cap of $669.82 million, a PE ratio of -1.32, a P/E/G ratio of 0.91 and a beta of 1.96. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 1.00. Bumble has a 52 week low of $3.55 and a 52 week high of $9.22.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.27. The business had revenue of $248.23 million for the quarter, compared to analyst estimates of $243.72 million. Bumble had a positive return on equity of 10.35% and a negative net margin of 82.41%.The company's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities research analysts expect that Bumble will post 4.19 EPS for the current fiscal year.

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.