Bumble Inc. (NASDAQ:BMBL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Bumble Inc. (NASDAQ:BMBL) have been given a consensus rating of “Hold” by the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $8.50.

A number of analysts have weighed in on BMBL shares. Bank of America lowered shares of Bumble from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price target on shares of Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Hsbc Global Res cut Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Morgan Stanley reduced their target price on Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut Bumble from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $7.00 in a research note on Thursday, August 8th.

Institutional Trading of Bumble

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after acquiring an additional 613,759 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Bumble in the 2nd quarter worth $24,121,000. The Manufacturers Life Insurance Company raised its holdings in Bumble by 17.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock worth $21,468,000 after purchasing an additional 297,057 shares during the period. Boston Partners lifted its position in Bumble by 2.0% during the first quarter. Boston Partners now owns 746,483 shares of the company’s stock valued at $8,348,000 after purchasing an additional 14,309 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Bumble by 13.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock valued at $7,434,000 after purchasing an additional 83,397 shares during the period. 94.85% of the stock is currently owned by institutional investors.

Bumble Stock Performance

Bumble stock opened at $7.31 on Monday. The stock’s 50 day moving average is $6.48 and its 200 day moving average is $8.92. The company has a market capitalization of $922.51 million, a P/E ratio of 43.00 and a beta of 1.66. Bumble has a twelve month low of $4.80 and a twelve month high of $15.90. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45.

Bumble (NASDAQ:BMBL) last released its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts predict that Bumble will post 0.77 earnings per share for the current fiscal year.

About Bumble

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.