Bumble Inc. (NASDAQ:BMBL) Given Average Rating of "Reduce" by Analysts

Key Points

• Analysts have an average “Reduce” rating on Bumble, with two sell ratings, 15 holds and one buy among 18 firms. The average 12-month price target is $3.87.
• Bumble shares opened at $2.79 and remain near their 52-week low of $2.54, while several major brokerages recently cut their price targets to between $3.50 and $4.00.
• The company reported an adjusted loss of $0.84 per share, far worse than the $0.25 consensus estimate, while quarterly revenue fell 15.2% year over year to $210.53 million.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) has earned an average rating of "Reduce" from the eighteen ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.8667.

A number of research analysts have recently weighed in on BMBL shares. Wells Fargo & Company lowered their price objective on Bumble from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Friday, August 7th. Wall Street Zen lowered shares of Bumble from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. The Goldman Sachs Group decreased their target price on shares of Bumble from $5.00 to $3.50 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Royal Bank Of Canada lowered their price target on shares of Bumble from $5.00 to $4.00 and set a "sector perform" rating on the stock in a report on Friday, August 7th. Finally, Citigroup dropped their price target on shares of Bumble from $3.90 to $3.60 and set a "neutral" rating for the company in a research report on Tuesday, May 26th.

Bumble Price Performance

Shares of Bumble stock opened at $2.79 on Monday. Bumble has a one year low of $2.54 and a one year high of $7.32. The stock's fifty day moving average is $2.87 and its 200 day moving average is $3.19. The stock has a market cap of $368.20 million, a P/E ratio of -0.66 and a beta of 1.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62.

Bumble (NASDAQ:BMBL - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($1.09). The company had revenue of $210.53 million for the quarter, compared to analysts' expectations of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. Bumble's revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the firm posted ($2.45) earnings per share. Sell-side analysts anticipate that Bumble will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Bumble by 314.5% in the first quarter. Principal Financial Group Inc. now owns 609,226 shares of the company's stock valued at $1,986,000 after acquiring an additional 462,251 shares in the last quarter. RBF Capital LLC grew its position in shares of Bumble by 86.9% during the first quarter. RBF Capital LLC now owns 967,372 shares of the company's stock worth $3,154,000 after purchasing an additional 449,866 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Bumble by 48.6% during the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company's stock worth $13,737,000 after purchasing an additional 1,378,487 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Bumble during the 1st quarter valued at approximately $2,039,000. Finally, Accel Growth Fund V Associates L.L.C. purchased a new stake in Bumble during the 2nd quarter valued at approximately $16,174,499. Institutional investors own 94.85% of the company's stock.

Bumble Company Profile

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company's products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.

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