Bumble (NASDAQ:BMBL) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Bumble (NASDAQ:BMBL) from a hold rating to a buy rating in a research note published on Saturday.

Several other brokerages have also recently issued reports on BMBL. Bank of America cut their price objective on Bumble from $3.50 to $3.30 and set an “underperform” rating on the stock in a research note on Thursday, March 12th. Citigroup upped their price objective on Bumble from $3.80 to $3.90 and gave the company a “neutral” rating in a research note on Thursday, March 12th. TD Cowen restated a “hold” rating and set a $5.00 price objective on shares of Bumble in a research note on Thursday, March 12th. William Blair reiterated an “outperform” rating on shares of Bumble in a research report on Monday, March 16th. Finally, Weiss Ratings cut Bumble from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $4.40.

Bumble Trading Up 4.6%

Shares of NASDAQ BMBL opened at $3.62 on Friday. The stock’s 50 day moving average price is $3.60 and its two-hundred day moving average price is $3.72. Bumble has a 52-week low of $2.61 and a 52-week high of $8.64. The stock has a market capitalization of $469.95 million, a P/E ratio of -0.62, a PEG ratio of 0.15 and a beta of 1.99. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.86.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. Bumble had a positive return on equity of 31.11% and a negative net margin of 72.04%.The firm had revenue of $212.38 million for the quarter, compared to analysts’ expectations of $211.59 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Bumble’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, analysts anticipate that Bumble will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Holdings Gp Man Blackstone III sold 7,477,504 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the sale, the insider directly owned 25,832 shares in the company, valued at approximately $90,670.32. This represents a 99.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder – Nq L.L.C. Btoa sold 7,477,504 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total value of $26,246,039.04. Following the sale, the insider owned 25,832 shares in the company, valued at $90,670.32. The trade was a 99.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,910,016 shares of company stock valued at $104,984,156 over the last quarter. Company insiders own 15.35% of the company’s stock.

Hedge Funds Weigh In On Bumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMBL. Royal Bank of Canada grew its holdings in Bumble by 409.3% in the 1st quarter. Royal Bank of Canada now owns 325,121 shares of the company’s stock worth $1,410,000 after buying an additional 261,281 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Bumble in the 1st quarter worth approximately $117,000. JPMorgan Chase & Co. grew its holdings in Bumble by 709.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 713,855 shares of the company’s stock worth $4,704,000 after buying an additional 625,631 shares in the last quarter. Prudential Financial Inc. bought a new position in Bumble in the 2nd quarter worth approximately $392,000. Finally, New York State Common Retirement Fund grew its holdings in Bumble by 31.1% in the 2nd quarter. New York State Common Retirement Fund now owns 25,631 shares of the company’s stock worth $169,000 after buying an additional 6,077 shares in the last quarter. 94.85% of the stock is owned by institutional investors.

About Bumble

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.