Shares of Bumble Inc. (NASDAQ:BMBL – Get Free Report) have received an average recommendation of “Reduce” from the eighteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $3.8667.
BMBL has been the subject of several research reports. Raymond James Financial reissued a “market perform” rating on shares of Bumble in a research report on Thursday, June 25th. Susquehanna decreased their price objective on Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Wells Fargo & Company lowered their price objective on Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bumble in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th.
Read Our Latest Analysis on BMBL
Bumble Stock Performance
Bumble (NASDAQ:BMBL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate 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 quarter last year, the company posted ($2.45) earnings per share. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, research analysts predict that Bumble will post -0.08 EPS for the current year.
Institutional Trading of Bumble
Several large investors have recently added to or reduced their stakes in BMBL. Accel Growth Fund V Associates L.L.C. bought a new stake in Bumble during the second quarter valued at about $16,174,499. Renaissance Technologies LLC boosted its position in shares of Bumble by 48.6% in the first quarter. Renaissance Technologies LLC now owns 4,213,887 shares of the company’s stock worth $13,737,000 after purchasing an additional 1,378,487 shares during the period. Bank of America Corp DE increased its stake in shares of Bumble by 16.7% in the first quarter. Bank of America Corp DE now owns 1,914,553 shares of the company’s stock worth $6,241,000 after purchasing an additional 274,548 shares in the last quarter. RBF Capital LLC raised its position in shares of Bumble by 86.9% during the 1st quarter. RBF Capital LLC now owns 967,372 shares of the company’s stock valued at $3,154,000 after purchasing an additional 449,866 shares during the period. Finally, Jupiter Asset Management Ltd. raised its position in shares of Bumble by 24.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 731,776 shares of the company’s stock valued at $2,612,000 after purchasing an additional 145,507 shares during the period. 94.85% of the stock is currently owned by institutional investors.
About Bumble
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.
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