Bumble Inc. (NASDAQ:BMBL) Stock Has Consensus Target Price of $3.87 According to Analysts

Shares of Bumble Inc. (NASDAQ:BMBL) have been assigned a consensus rating of “Reduce” from the eighteen analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $3.87.

Several brokerages recently issued reports on BMBL. UBS Group decreased their price target on shares of Bumble from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Wells Fargo & Company dropped their price objective on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. The Goldman Sachs Group cut their price objective on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Raymond James Financial reaffirmed a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. Finally, Wall Street Zen cut Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th.

Institutional Investors Weigh In On Bumble

Several hedge funds have recently added to or reduced their stakes in BMBL. Principal Financial Group Inc. raised its stake in shares of Bumble by 314.5% in the first quarter. Principal Financial Group Inc. now owns 609,226 shares of the company’s stock worth $1,986,000 after purchasing an additional 462,251 shares during the last quarter. RBF Capital LLC increased its holdings in Bumble by 86.9% in the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock worth $3,154,000 after buying an additional 449,866 shares in the last quarter. Renaissance Technologies LLC raised its position in Bumble by 48.6% in the 1st 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. Pacer Advisors Inc. bought a new stake in shares of Bumble in the first quarter worth approximately $2,039,000. Finally, Accel Growth Fund V Associates L.L.C. bought a new position in Bumble during the second quarter valued at approximately $16,174,499. 94.85% of the stock is owned by institutional investors.

Bumble Trading Down 0.7%

NASDAQ:BMBL opened at $2.66 on Monday. Bumble has a 12 month low of $2.54 and a 12 month high of $6.49. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $2.84 and a 200-day moving average price of $3.18. The stock has a market cap of $351.04 million, a price-to-earnings ratio of -0.63 and a beta of 1.86.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%.The company had revenue of $210.53 million during the quarter, compared to the consensus estimate of $210.46 million. During the same period in the previous year, the company earned ($2.45) earnings per share. Bumble’s quarterly revenue was down 15.2% on a year-over-year basis. Equities analysts predict that Bumble will post -0.08 EPS for the current year.

Bumble Company Profile

Bumble Inc operates a global online dating and social networking platform. Its flagship Bumble app is designed to help people form romantic relationships, with features that encourage women to make the first move in heterosexual matches. The platform also supports same-sex and other types of connections.

The company’s products have included Bumble Date for dating, Bumble BFF for friendship connections and Bumble Bizz for professional networking. Bumble has also introduced features intended to support users in building communities and maintaining meaningful relationships, including its Bumble For Friends offering.

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously helped establish Tinder.