Bumble (NASDAQ:BMBL) Price Target Cut to $3.00 by Analysts at UBS Group

Key Points

• UBS lowered Bumble’s price target to $3.00 from $4.50 while maintaining a “neutral” rating, reflecting only about 8.5% potential upside. The broader analyst consensus is “Reduce,” with an average target of $3.87.
• Bumble’s latest quarterly results missed expectations, with a loss of $0.84 per share versus the expected $0.25 profit and revenue down 15.2% year over year to $210.53 million.
• The stock opened at $2.77 and is near its 52-week low of $2.54. Insiders sold nearly 30 million shares worth about $113.2 million over the past 90 days, while institutional investors own 94.85% of the company.

Bumble (NASDAQ:BMBL - Get Free Report) had its target price dropped by equities research analysts at UBS Group from $4.50 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 8.46% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company reduced their target price on Bumble from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Friday, August 7th. Susquehanna reduced their target price on shares of Bumble from $3.50 to $3.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Royal Bank Of Canada lowered their target price on shares of Bumble from $5.00 to $4.00 and set a "sector perform" rating for the company in a report on Friday, August 7th. The Goldman Sachs Group dropped their price target on shares of Bumble from $5.00 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Bumble from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $3.87.

Bumble Trading Down 0.5%

Shares of BMBL stock opened at $2.77 on Wednesday. The company has a market capitalization of $359.08 million, a PE ratio of -0.66, a price-to-earnings-growth ratio of 0.15 and a beta of 1.87. Bumble has a 52-week low of $2.54 and a 52-week high of $7.37. The business's fifty day moving average is $2.96 and its 200 day moving average is $3.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.22 and a current ratio of 1.22.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($1.09). Bumble had a positive return on equity of 33.68% and a negative net margin of 58.99%.The business had revenue of $210.53 million during the quarter, compared to the consensus estimate of $210.46 million. During the same quarter in the prior year, the company earned ($2.45) earnings per share. Bumble's revenue was down 15.2% compared to the same quarter last year. On average, equities research analysts anticipate that Bumble will post 0.62 EPS for the current fiscal year.

Insider Transactions at Bumble

In other news, major shareholder Buzz Holdings L.P. Bcp sold 7,477,500 shares of Bumble stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider owned 19,374 shares of the company's stock, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the transaction, the insider owned 19,374 shares of the company's stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,954,026 shares of company stock worth $113,182,633 over the last 90 days. Corporate insiders own 15.35% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Bumble by 409.3% in the 1st quarter. Royal Bank of Canada now owns 325,121 shares of the company's stock valued at $1,410,000 after acquiring an additional 261,281 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bumble during the 1st quarter valued at about $117,000. JPMorgan Chase & Co. increased its position in shares of Bumble by 709.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 713,855 shares of the company's stock valued at $4,704,000 after purchasing an additional 625,631 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Bumble in the 2nd quarter worth approximately $392,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Bumble by 31.1% in the second quarter. New York State Common Retirement Fund now owns 25,631 shares of the company's stock worth $169,000 after buying an additional 6,077 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company's stock.

About Bumble

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company's core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source