Bumble (NASDAQ:BMBL) Shares Gap Down - Should You Sell?

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $5.74, but opened at $5.33. Bumble shares last traded at $5.31, with a volume of 931,096 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BMBL shares. Piper Sandler reduced their target price on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their target price on shares of Bumble from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Royal Bank of Canada decreased their price target on shares of Bumble from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Evercore ISI lowered their price objective on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Finally, Morgan Stanley dropped their price objective on shares of Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.58.

Bumble Price Performance

The stock has a market cap of $546.41 million, a PE ratio of -1.08 and a beta of 1.76. The business's 50-day simple moving average is $4.83 and its 200-day simple moving average is $6.37. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The business had revenue of $247.10 million during the quarter, compared to the consensus estimate of $246.68 million. Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. On average, research analysts expect that Bumble Inc. will post 4.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Bumble

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC increased its position in Bumble by 189.2% during the 4th quarter. SG Americas Securities LLC now owns 32,107 shares of the company's stock valued at $261,000 after purchasing an additional 21,006 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Bumble in the 4th quarter worth about $214,000. Westbourne Investment Advisors Inc. boosted its stake in shares of Bumble by 18.4% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 486,446 shares of the company's stock valued at $3,960,000 after purchasing an additional 75,635 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Bumble during the fourth quarter valued at about $187,000. Finally, Rhumbline Advisers raised its stake in Bumble by 1.4% in the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company's stock worth $1,262,000 after buying an additional 2,157 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.