Bumble (NASDAQ:BMBL) Price Target Lowered to $3.50 at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) had its price objective reduced by research analysts at The Goldman Sachs Group from $5.00 to $3.50 in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 15.13% from the stock’s current price.

BMBL has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Bumble in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $5.00 price target on shares of Bumble in a research note on Wednesday, May 6th. Raymond James Financial reissued a “market perform” rating on shares of Bumble in a report on Thursday, June 25th. UBS Group upped their price objective on shares of Bumble from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised Bumble from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $4.20.

Bumble Trading Down 5.0%

BMBL opened at $3.04 on Thursday. The stock has a market capitalization of $394.65 million, a P/E ratio of -0.52, a P/E/G ratio of 0.10 and a beta of 1.87. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.58. Bumble has a 12 month low of $2.54 and a 12 month high of $7.95. The firm’s fifty day simple moving average is $2.98 and its 200 day simple moving average is $3.27.

Bumble (NASDAQ:BMBL) last released its 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). The firm had revenue of $210.53 million for the quarter, compared to the consensus estimate of $210.46 million. Bumble had a positive return on equity of 32.66% and a negative net margin of 72.04%.Bumble’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the company posted ($2.45) EPS. As a group, research analysts anticipate that Bumble will post 1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bumble news, Director Ann Mather sold 22,013 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $2.79, for a total transaction of $61,416.27. Following the completion of the sale, the director directly owned 117,853 shares in the company, valued at approximately $328,809.87. This trade represents a 15.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder – Nq L.L.C. Btoa sold 7,477,500 shares of Bumble stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,954,026 shares of company stock valued at $113,182,633 over the last quarter. Company insiders own 15.35% of the company’s stock.

Hedge Funds Weigh In On Bumble

Several institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC increased its holdings in shares of Bumble by 16.7% in the second quarter. Cerity Partners LLC now owns 19,962 shares of the company’s stock worth $132,000 after purchasing an additional 2,857 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Bumble by 19.8% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 25,822 shares of the company’s stock worth $92,000 after buying an additional 4,270 shares in the last quarter. State of Wyoming grew its position in Bumble by 59.8% during the fourth quarter. State of Wyoming now owns 12,017 shares of the company’s stock worth $43,000 after buying an additional 4,499 shares in the last quarter. Wexford Capital LP bought a new position in Bumble in the 3rd quarter worth about $31,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Bumble by 21.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 30,724 shares of the company’s stock valued at $187,000 after acquiring an additional 5,444 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

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.