Bumble (NASDAQ:BMBL) Price Target Cut to $16.00 by Analysts at KeyCorp

Bumble (NASDAQ:BMBL - Get Free Report) had its target price lowered by analysts at KeyCorp from $18.00 to $16.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's target price points to a potential upside of 52.67% from the company's current price.

Several other research firms have also recently weighed in on BMBL. JPMorgan Chase & Co. dropped their price objective on Bumble from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, February 28th. BTIG Research decreased their price objective on shares of Bumble from $20.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, February 28th. Raymond James reissued a "market perform" rating on shares of Bumble in a research note on Thursday, April 4th. Morgan Stanley began coverage on Bumble in a research note on Thursday, April 18th. They issued an "equal weight" rating and a $13.00 target price for the company. Finally, Susquehanna cut their price objective on shares of Bumble from $17.00 to $14.00 and set a "positive" rating on the stock in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.52.

Bumble Stock Performance

Shares of BMBL traded up $0.34 during midday trading on Monday, reaching $10.48. The stock had a trading volume of 3,661,331 shares, compared to its average volume of 2,871,383. Bumble has a one year low of $9.93 and a one year high of $21.06. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.36 billion, a PE ratio of -349.33, a P/E/G ratio of 0.28 and a beta of 1.67. The firm has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $12.91.

Bumble (NASDAQ:BMBL - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.31). Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The company had revenue of $273.64 million for the quarter, compared to the consensus estimate of $275.38 million. As a group, sell-side analysts anticipate that Bumble will post 0.66 EPS for the current year.

Insider Buying and Selling

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares of the company's stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Bumble by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company's stock valued at $144,921,000 after purchasing an additional 297,286 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Bumble by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company's stock valued at $123,895,000 after purchasing an additional 347,238 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Bumble by 16.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company's stock worth $10,076,000 after purchasing an additional 97,948 shares during the period. Hudson Bay Capital Management LP boosted its stake in shares of Bumble by 800.0% during the third quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company's stock valued at $6,714,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Pearl River Capital LLC bought a new position in shares of Bumble during the third quarter valued at approximately $753,000. 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.