Bumble (NASDAQ:BMBL) Reaches New 12-Month High – Time to Buy?

Bumble Inc. (NASDAQ:BMBL) reached a new 52-week high on Tuesday. The stock traded as high as $5.98 and last traded at $5.9930, with a volume of 1,710,112 shares traded. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMBL shares. UBS Group lifted their price objective on Bumble from $3.00 to $6.05 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Susquehanna dropped their price target on Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Weiss Ratings raised shares of Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 12th. Wells Fargo & Company decreased their price objective on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.12.

Bumble Stock Up 0.1%

The company has a market capitalization of $787.19 million, a P/E ratio of -1.41 and a beta of 1.88. The company has a 50-day moving average of $3.55 and a two-hundred day moving average of $3.33. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.65.

Bumble (NASDAQ:BMBL) last announced 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). The firm had revenue of $210.53 million for the quarter, compared to analysts’ expectations of $210.46 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.45) EPS. On average, research analysts predict that Bumble Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the business’s stock in a transaction that occurred on 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 sale, the insider directly owned 16,120 shares of the company’s stock, valued at $47,392.80. The trade was a 99.57% decrease in their position. 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 business’s stock in a transaction on 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 sale, the insider directly owned 16,120 shares in the company, valued at $47,392.80. This trade represents a 99.57% 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 26,127,851 shares of company stock valued at $83,447,304 over the last ninety days. Company insiders own 15.35% of the company’s stock.

Institutional Investors Weigh In On Bumble

Institutional investors have recently modified their holdings of the business. HB Wealth Management LLC bought a new stake in shares of Bumble in the first quarter worth $34,000. L2 Asset Management LLC bought a new stake in Bumble during the second quarter valued at about $42,000. R Squared Ltd bought a new position in Bumble in the 1st quarter worth approximately $48,000. Seven Mile Advisory purchased a new stake in shares of Bumble in the third quarter worth about $40,000. Finally, Abel Hall LLC grew its holdings in shares of Bumble by 49.4% in the first quarter. Abel Hall LLC now owns 17,530 shares of the company’s stock valued at $57,000 after purchasing an additional 5,793 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

Bumble Company Profile

Bumble Inc is a technology company that operates online dating and social networking platforms. Its flagship Bumble app is designed to help people make romantic connections, while emphasizing user control and safety in the online dating experience.

The company also operates Badoo, a dating platform with an international user base, and offers services focused on friendship and social connections through Bumble-branded products. Its platforms provide features such as profile discovery, matching, messaging, and paid options intended to enhance users’ experiences.

Founded in 2014 by Whitney Wolfe Herd, Bumble has expanded from its initial focus on dating to a broader range of personal-connection services.