Bumble (NASDAQ:BMBL) Reaches New 1-Year High - Should You Buy?

Key Points

• Bumble hit a new 52-week high of $6.00, trading around $5.995, despite its 50- and 200-day averages being $3.80 and $3.38.
• Analysts’ consensus rating is “Reduce,” with a $4.12 price target; the company also missed quarterly expectations, reporting EPS of $0.20 versus $0.23 expected and revenue of $207.09 million versus $209.61 million expected.
• Insiders sold 26.1 million shares worth about $83.4 million over the past 90 days, including major shareholders’ sales that reduced their holdings by 99.57%.

Bumble Inc. (NASDAQ:BMBL - Get Free Report) reached a new 52-week high during trading on Wednesday. The company traded as high as $6.00 and last traded at $5.9950, with a volume of 2,280,346 shares. The stock had previously closed at $5.98.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective 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. Weiss Ratings raised Bumble from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, October 12th. Wall Street Zen lowered Bumble from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Susquehanna decreased their target price on Bumble from $3.50 to $3.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Finally, The Goldman Sachs Group decreased their price objective on Bumble from $5.00 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $4.12.

Bumble Trading Up 0.3%

The firm has a market cap of $791.82 million, a PE ratio of -1.42 and a beta of 1.67. The company's fifty day moving average price is $3.80 and its two-hundred day moving average price is $3.38. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $207.09 million for the quarter, compared to analysts' expectations of $209.61 million. Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%. As a group, sell-side analysts forecast that Bumble Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the business's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Buzz Holdings L.P. Bcp sold 3,767,776 shares of the company's stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the sale, the insider directly owned 16,120 shares in the company, valued at approximately $47,392.80. This represents a 99.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,127,851 shares of company stock worth $83,447,304 in the last 90 days. Company insiders own 15.35% of the company's stock.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently bought and sold shares of BMBL. Accel Growth Fund V Associates L.L.C. bought a new stake in Bumble during the second quarter worth approximately $16,174,499. Renaissance Technologies LLC grew its position in Bumble by 48.6% in the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company's stock worth $13,737,000 after buying an additional 1,378,487 shares during the last quarter. Bank of America Corp DE grew its position in Bumble by 16.7% in the first quarter. Bank of America Corp DE now owns 1,914,553 shares of the company's stock worth $6,241,000 after buying an additional 274,548 shares during the last quarter. RBF Capital LLC increased its holdings in shares of Bumble by 86.9% in the first quarter. RBF Capital LLC now owns 967,372 shares of the company's stock valued at $3,154,000 after buying an additional 449,866 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Bumble in the first quarter valued at $2,039,000. 94.85% of the stock is owned by institutional investors and hedge funds.

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.

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