Bumble Inc. (NASDAQ:BMBL) Stock Has Average Price Target of $4.12

Shares of Bumble Inc. (NASDAQ:BMBL) have been given a consensus rating of “Reduce” by the eighteen research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.12.

A number of brokerages have issued reports on BMBL. Royal Bank Of Canada decreased their target price on shares of Bumble from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. UBS Group boosted their price target on shares of Bumble from $3.00 to $6.05 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Wall Street Zen downgraded shares of Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Raymond James Financial reaffirmed a “market perform” rating on shares of Bumble in a research note on Thursday, June 25th. Finally, Wells Fargo & Company cut their price objective on Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, August 7th.

Insider Transactions at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider owned 16,120 shares in the company, valued at $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Buzz Holdings L.P. Bcp sold 3,767,776 shares of the company’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the transaction, the insider directly owned 16,120 shares in the company, valued at approximately $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,127,851 shares of company stock worth $83,447,304. 15.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently made changes to their positions in BMBL. Headlands Technologies LLC raised its position in Bumble by 10.1% during the second quarter. Headlands Technologies LLC now owns 51,703 shares of the company’s stock valued at $165,000 after acquiring an additional 4,746 shares in the last quarter. L2 Asset Management LLC acquired a new stake in Bumble in the second quarter valued at approximately $42,000. Globeflex Capital L P acquired a new stake in Bumble in the second quarter valued at approximately $70,000. Accel Growth Fund V Associates L.L.C. acquired a new stake in Bumble in the second quarter valued at approximately $16,174,499. Finally, Bank of New York Mellon Corp bought a new stake in Bumble in the second quarter worth approximately $1,035,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Stock Performance

BMBL stock opened at $5.95 on Friday. The firm has a 50 day simple moving average of $3.16 and a 200 day simple moving average of $3.22. Bumble has a 52 week low of $2.44 and a 52 week high of $5.98. The stock has a market cap of $785.22 million, a P/E ratio of -1.41 and a beta of 1.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.62 and a current ratio of 1.62.

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

Bumble Company Profile

Bumble Inc is a technology company that operates a portfolio of online dating and social networking platforms. Its flagship Bumble app is designed to help people make meaningful connections, including romantic relationships, friendships and professional contacts. A distinctive feature of Bumble’s dating service has historically given women greater control over initiating conversations in heterosexual matches.

The company also operates Badoo, an online dating platform with a significant international presence, and Bumble For Friends, a service focused on helping users build platonic friendships.