Bumble (NASDAQ:BMBL) Price Target Raised to $5.50 at Bank of America

Bumble (NASDAQ:BMBL) had its price target lifted by research analysts at Bank of America from $5.25 to $5.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s target price suggests a potential downside of 17.91% from the company’s previous close.

A number of other research firms also recently issued reports on BMBL. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 target price on shares of Bumble in a research report on Tuesday, June 3rd. Citigroup raised their price target on Bumble from $4.80 to $7.00 and gave the company a “neutral” rating in a research note on Friday, June 27th. Morgan Stanley lowered their price target on Bumble from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. UBS Group increased their price objective on Bumble from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Finally, Susquehanna decreased their target price on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.97.

Bumble Price Performance

BMBL stock opened at $6.70 on Wednesday. The stock has a 50-day moving average price of $5.38 and a two-hundred day moving average price of $5.98. Bumble has a 1 year low of $3.55 and a 1 year high of $10.05. The stock has a market cap of $692.04 million, a PE ratio of -1.37, a price-to-earnings-growth ratio of 0.25 and a beta of 1.94. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.75.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). Bumble had a positive return on equity of 5.81% and a negative net margin of 54.06%. The business had revenue of $247.10 million for the quarter, compared to the consensus estimate of $246.68 million. During the same period in the prior year, the business earned $0.19 earnings per share. Bumble’s revenue was down 7.7% compared to the same quarter last year. Equities analysts forecast that Bumble will post 4.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RPD Fund Management LLC acquired a new stake in Bumble during the fourth quarter worth approximately $30,940,000. Ameriprise Financial Inc. lifted its holdings in Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after purchasing an additional 1,298,630 shares during the last quarter. Federated Hermes Inc. bought a new stake in Bumble in the 1st quarter valued at $3,231,000. RBF Capital LLC acquired a new position in Bumble in the 4th quarter valued at $5,157,000. Finally, First Trust Advisors LP grew its holdings in Bumble by 429.5% in the 4th quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock valued at $6,287,000 after buying an additional 626,528 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.