Bumble Inc. (NASDAQ:BMBL) Receives Consensus Recommendation of "Hold" from Brokerages

Bumble Inc. (NASDAQ:BMBL - Get Free Report) has been assigned an average recommendation of "Hold" from the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $8.50.

BMBL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bumble from $11.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Bumble from $12.00 to $6.00 and set an "equal weight" rating for the company in a research report on Thursday, August 8th. KeyCorp lowered shares of Bumble from an "overweight" rating to a "sector weight" rating in a research report on Friday, September 27th. Piper Sandler dropped their target price on shares of Bumble from $13.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Finally, HSBC restated a "hold" rating on shares of Bumble in a research report on Friday, August 9th.

Bumble Price Performance

Shares of BMBL traded down $0.04 during mid-day trading on Monday, reaching $7.27. The stock had a trading volume of 3,317,985 shares, compared to its average volume of 3,137,438. The firm has a market cap of $917.47 million, a price-to-earnings ratio of 42.76 and a beta of 1.66. Bumble has a 12 month low of $4.80 and a 12 month high of $15.90. The business has a fifty day moving average of $6.51 and a 200 day moving average of $8.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38.

Bumble (NASDAQ:BMBL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The business had revenue of $268.60 million during the quarter, compared to analyst estimates of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. Equities analysts predict that Bumble will post 0.77 EPS for the current year.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company's stock valued at $122,837,000 after acquiring an additional 613,759 shares during the period. Point72 Asset Management L.P. purchased a new position in Bumble in the 2nd quarter worth about $24,121,000. The Manufacturers Life Insurance Company increased its stake in Bumble by 17.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company's stock worth $21,468,000 after buying an additional 297,057 shares during the period. Boston Partners increased its stake in Bumble by 2.0% in the 1st quarter. Boston Partners now owns 746,483 shares of the company's stock worth $8,348,000 after buying an additional 14,309 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Bumble by 13.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company's stock worth $7,434,000 after buying an additional 83,397 shares during the period. Hedge funds and other institutional investors own 94.85% of the company's stock.

About Bumble

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.