Bumble (NASDAQ:BMBL) Announces Earnings Results

Key Points

• Bumble missed quarterly expectations, reporting EPS of $0.20 versus the $0.23 consensus and revenue of $207.09 million versus $209.61 million.
• Analyst sentiment was cautious: the stock’s consensus rating was “Reduce,” with an average price target of $4.12; several firms recently lowered their targets.
• Insiders sold substantial shares over the quarter, totaling about $83.4 million in sales, including large transactions by major shareholders.

Bumble (NASDAQ:BMBL - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03), FiscalAI reports. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The business had revenue of $207.09 million during the quarter, compared to the consensus estimate of $209.61 million.

Bumble Stock Performance

Shares of NASDAQ BMBL traded up $0.02 during trading hours on Wednesday, reaching $6.00. 4,218,416 shares of the stock were exchanged, compared to its average volume of 13,306,741. The firm has a market capitalization of $791.82 million, a price-to-earnings ratio of -1.42 and a beta of 1.67. The stock's fifty day simple moving average is $3.86 and its 200 day simple moving average is $3.39. 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 has a 52 week low of $2.44 and a 52 week high of $6.00.

Analyst Upgrades and Downgrades

BMBL has been the topic of a number of recent analyst reports. Weiss Ratings raised Bumble from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, October 12th. Royal Bank Of Canada cut their price target on 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 reduced their price objective on shares of Bumble from $5.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Susquehanna reduced their price objective on shares of Bumble from $3.50 to $3.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Bumble from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $4.12.

Insider Transactions at Bumble

In related news, major shareholder Holdings Gp Man Blackstone III sold 2,763,510 shares of the business's stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $3.54, for a total value of $9,782,825.40. Following the completion of the sale, the insider directly owned 13,733 shares in the company, valued at $48,614.82. The trade was a 99.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Buzz Holdings L.P. Bcp sold 2,763,510 shares of the company's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $3.54, for a total value of $9,782,825.40. Following the completion of the transaction, the insider directly owned 13,733 shares in the company, valued at approximately $48,614.82. This represents a 99.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

About Bumble

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.

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