Bumble (NASDAQ:BMBL) Earns Neutral Rating from Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Bumble (NASDAQ:BMBL) in a research note released on Wednesday, Analyst Ratings Network reports. The brokerage issued a neutral rating and a $35.00 target price on the stock.

A number of other analysts have also issued reports on the stock. Evercore ISI upgraded shares of Bumble from an in-line rating to an outperform rating and dropped their price objective for the company from $55.00 to $50.00 in a research note on Tuesday, November 23rd. Susquehanna dropped their price target on shares of Bumble from $70.00 to $58.00 and set a positive rating for the company in a research note on Thursday, November 11th. Susquehanna Bancshares dropped their price target on shares of Bumble from $70.00 to $58.00 and set a positive rating for the company in a research note on Thursday, November 11th. Wolfe Research dropped their price target on shares of Bumble from $50.00 to $46.00 and set a peer perform rating for the company in a research note on Thursday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of Bumble from a neutral rating to an overweight rating and set a $55.00 target price for the company in a research note on Tuesday, December 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $57.94.

Shares of BMBL stock opened at $33.25 on Wednesday. The stock has a market cap of $4.30 billion and a price-to-earnings ratio of 21.31. The firm’s 50 day moving average price is $35.41 and its two-hundred day moving average price is $46.38. Bumble has a fifty-two week low of $29.60 and a fifty-two week high of $84.80. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.25.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $200.51 million for the quarter, compared to analysts’ expectations of $197.53 million. Bumble had a net margin of 41.61% and a negative return on equity of 2.58%. On average, equities analysts forecast that Bumble will post 0.04 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC acquired a new stake in Bumble in the fourth quarter worth about $150,000. Hudson Bay Capital Management LP bought a new stake in Bumble in the third quarter worth about $3,499,000. Jefferies Group LLC raised its position in Bumble by 25.0% in the third quarter. Jefferies Group LLC now owns 25,000 shares of the company’s stock worth $1,250,000 after acquiring an additional 5,000 shares in the last quarter. Moors & Cabot Inc. bought a new stake in Bumble in the third quarter worth about $239,000. Finally, Balyasny Asset Management LLC bought a new stake in Bumble in the third quarter worth about $44,742,000.

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 credit-based dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis.

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Analyst Recommendations for Bumble (NASDAQ:BMBL)

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