Bumble Inc. (NASDAQ:BMBL) Stock Has Average Target Price of $4.04

Key Points

• Analysts are cautious: Seventeen firms give Bumble an average “Reduce” recommendation, with 14 holds, two sells, and one buy. The average 12-month price target is $4.04.
• Quarterly results missed expectations: Bumble reported EPS of $0.20 versus the $0.23 consensus and revenue of $207.09 million versus estimates of $209.61 million.
• Insiders have been selling: Company insiders sold 26.1 million shares worth about $83.4 million over the past quarter; insiders own 15.35% of the stock.

Shares of Bumble Inc. (NASDAQ:BMBL - Get Free Report) have received an average recommendation of "Reduce" from the seventeen research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.04.

A number of equities research analysts have recently commented on BMBL shares. Wells Fargo & Company reduced their target price on shares of Bumble from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Friday, August 7th. The Goldman Sachs Group lowered their price target on Bumble from $5.00 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Wall Street Zen cut Bumble from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Royal Bank Of Canada reduced their price objective on Bumble from $5.00 to $4.00 and set a "sector perform" rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings raised Bumble from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, October 12th.

Insider Buying and Selling

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the business's stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider owned 16,120 shares of the company's stock, valued at approximately $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder - Nq L.L.C. Btoa sold 3,767,776 shares of the company's stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the sale, the insider owned 16,120 shares of the company's stock, valued at $47,392.80. This trade represents a 99.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 26,127,851 shares of company stock valued at $83,447,304. Company insiders own 15.35% of the company's stock.

Hedge Funds Weigh In On Bumble

Several institutional investors have recently bought and sold shares of BMBL. Royce & Associates LP raised its position in Bumble by 36.4% during the 3rd quarter. Royce & Associates LP now owns 44,683 shares of the company's stock worth $118,000 after buying an additional 11,916 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Bumble in the third quarter valued at about $41,000. StoneX Group Inc. boosted its holdings in shares of Bumble by 39.5% in the third quarter. StoneX Group Inc. now owns 18,854 shares of the company's stock valued at $51,000 after acquiring an additional 5,339 shares in the last quarter. State of Wyoming boosted its holdings in shares of Bumble by 328.4% in the third quarter. State of Wyoming now owns 97,082 shares of the company's stock valued at $255,000 after acquiring an additional 74,421 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Bumble by 109.9% in the third quarter. Oppenheimer & Co. Inc. now owns 40,100 shares of the company's stock valued at $105,000 after acquiring an additional 21,000 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Stock Up 0.2%

BMBL opened at $5.98 on Tuesday. Bumble has a one year low of $2.44 and a one year high of $6.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $789.18 million, a P/E ratio of -1.41 and a beta of 1.67. The business's 50-day simple moving average is $4.06 and its 200-day simple moving average is $3.42.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). The firm had revenue of $207.09 million during the quarter, compared to analyst estimates of $209.61 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. Analysts anticipate that Bumble will post -0.08 EPS for the current year.

Bumble Company Profile

Bumble Inc is a technology company that operates online dating and social networking platforms. Its flagship Bumble app is designed to help people make romantic connections, while emphasizing user control and safety in the online dating experience.

The company also operates Badoo, a dating platform with an international user base, and offers services focused on friendship and social connections through Bumble-branded products. Its platforms provide features such as profile discovery, matching, messaging, and paid options intended to enhance users' experiences.

Founded in 2014 by Whitney Wolfe Herd, Bumble has expanded from its initial focus on dating to a broader range of personal-connection services.

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.