Bumble (NASDAQ:BMBL) Shares Gap Up - What's Next?

Bumble Inc. (NASDAQ:BMBL - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $5.21, but opened at $6.02. Bumble shares last traded at $6.09, with a volume of 3,556,583 shares.

Wall Street Analyst Weigh In

BMBL has been the subject of a number of research reports. UBS Group raised their price objective on Bumble from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Citigroup raised their price objective on Bumble from $4.80 to $7.00 and gave the stock a "neutral" rating in a research report on Friday. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $5.00 price target on shares of Bumble in a research note on Tuesday, June 3rd. Stifel Nicolaus cut their price target on Bumble from $6.00 to $4.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley cut their price target on Bumble from $6.00 to $5.50 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Bumble has an average rating of "Hold" and an average target price of $6.97.

Bumble Price Performance

The stock has a 50 day moving average of $5.29 and a two-hundred day moving average of $6.02. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $666.22 million, a P/E ratio of -1.32, a P/E/G ratio of 0.25 and a beta of 1.90.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). Bumble had a negative net margin of 54.06% and a positive return on equity of 5.81%. The company had revenue of $247.10 million during the quarter, compared to the consensus estimate of $246.68 million. During the same period in the previous year, the business posted $0.19 earnings per share. The firm's revenue was down 7.7% on a year-over-year basis. Sell-side analysts predict that Bumble Inc. will post 4.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BMBL. Pale Fire Capital SE bought a new position in shares of Bumble in the 1st quarter valued at approximately $43,000. Vident Advisory LLC bought a new position in shares of Bumble in the 1st quarter valued at approximately $48,000. Teacher Retirement System of Texas bought a new position in Bumble in the 1st quarter worth approximately $49,000. Tyche Wealth Partners LLC bought a new position in Bumble in the 1st quarter worth approximately $52,000. Finally, Kestra Private Wealth Services LLC bought a new position in Bumble in the 1st quarter worth approximately $54,000. 94.85% of the stock is owned by institutional investors.

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.