Bumble (NASDAQ:BMBL) Upgraded at Bank of America

Bumble (NASDAQ:BMBL - Get Free Report) was upgraded by equities researchers at Bank of America from a "neutral" rating to a "buy" rating in a research report issued on Friday, Benzinga reports. The brokerage presently has a $14.00 target price on the stock. Bank of America's target price suggests a potential upside of 22.27% from the company's current price.

Other research analysts also recently issued research reports about the stock. Evercore ISI upped their target price on shares of Bumble from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Thursday. Piper Sandler reiterated a "neutral" rating and issued a $13.00 target price (down previously from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. The Goldman Sachs Group dropped their target price on shares of Bumble from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bumble from $15.00 to $13.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, Morgan Stanley began coverage on shares of Bumble in a research report on Thursday, April 18th. They set an "equal weight" rating and a $13.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.89.

Bumble Stock Performance

Bumble stock remained flat at $11.45 during mid-day trading on Friday. 4,932,782 shares of the company's stock traded hands, compared to its average volume of 3,014,724. Bumble has a twelve month low of $9.83 and a twelve month high of $21.06. The firm has a market capitalization of $1.48 billion, a PE ratio of -381.67, a price-to-earnings-growth ratio of 0.28 and a beta of 1.67. 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 business's 50 day moving average price is $10.70 and its two-hundred day moving average price is $12.84.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. The firm had revenue of $267.80 million for the quarter, compared to the consensus estimate of $265.41 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The business's revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Sell-side analysts predict that Bumble will post 0.66 EPS for the current year.

Insider Transactions at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm's stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.84% of the company's stock.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Bumble by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company's stock valued at $150,478,000 after buying an additional 495,671 shares in the last quarter. Wellington Management Group LLP increased its position in Bumble by 4.4% during 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 during the period. Dimensional Fund Advisors LP increased its position in Bumble by 39.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company's stock valued at $53,055,000 after purchasing an additional 1,013,374 shares during the period. Goldman Sachs Group Inc. increased its position in Bumble by 12.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company's stock valued at $52,904,000 after purchasing an additional 397,741 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Bumble by 15.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company's stock valued at $28,446,000 after purchasing an additional 258,288 shares during the period. Institutional investors own 94.85% of the company's stock.

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.