Bumble (NASDAQ:BMBL) PT Lowered to $13.00

Bumble (NASDAQ:BMBL) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $15.00 to $13.00 in a report released on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 16.91% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price target on shares of Bumble in a research note on Wednesday, February 28th. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target (down previously from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Susquehanna reduced their target price on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, February 29th. Evercore ISI increased their price objective on shares of Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley initiated coverage on Bumble in a research note on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 price target on the stock. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.05.

Bumble Price Performance

Shares of NASDAQ BMBL traded up $0.85 during midday trading on Thursday, reaching $11.12. 5,190,370 shares of the company were exchanged, compared to its average volume of 2,932,579. Bumble has a one year low of $9.83 and a one year high of $21.06. The stock has a market cap of $1.44 billion, a P/E ratio of -364.67, a PEG ratio of 0.28 and a beta of 1.67. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $10.71 and its 200-day moving average price is $12.85.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The firm had revenue of $267.80 million for the quarter, compared to analyst estimates of $265.41 million. During the same period last year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that Bumble will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The stock was 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 directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bumble

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Bumble by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock worth $144,921,000 after purchasing an additional 297,286 shares in the last quarter. Wellington Management Group LLP grew its position in Bumble by 4.4% during the third quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after buying an additional 347,238 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 acquiring an additional 97,948 shares during the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of Bumble by 800.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock valued at $6,714,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of Bumble during the third quarter worth about $753,000. 94.85% of the stock is currently owned by institutional investors.

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.