Bumble (NASDAQ:BMBL) Price Target Cut to $16.00 by Analysts at KeyCorp

Bumble (NASDAQ:BMBL) had its price objective decreased by KeyCorp from $18.00 to $16.00 in a research report released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other analysts have also commented on the stock. Piper Sandler reiterated a neutral rating and issued a $13.00 price target (down from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Susquehanna reduced their price target on shares of Bumble from $17.00 to $14.00 and set a positive rating for the company in a research note on Thursday, February 29th. BTIG Research reduced their price target on shares of Bumble from $20.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. reduced their price target on shares of Bumble from $20.00 to $17.00 and set an overweight rating for the company in a research note on Wednesday, February 28th. Finally, Morgan Stanley started coverage on shares of Bumble in a research note on Thursday, April 18th. They issued an equal weight rating and a $13.00 price target for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $16.05.

Bumble Stock Up 11.5 %

NASDAQ:BMBL opened at $11.45 on Monday. The firm has a market cap of $1.48 billion, a P/E ratio of -381.67, a P/E/G ratio of 0.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.01. Bumble has a fifty-two week low of $9.83 and a fifty-two week high of $21.06. The firm has a 50-day simple moving average of $10.71 and a two-hundred day simple moving average of $12.85.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The business had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. Bumble’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. Analysts predict that Bumble will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bumble

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Bumble by 3.2% during the third quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after purchasing an additional 297,286 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Bumble by 4.4% during the third quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after buying an additional 347,238 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Bumble by 16.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after buying an additional 97,948 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of Bumble by 800.0% during the third quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock valued at $6,714,000 after buying an additional 400,000 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of Bumble during the third quarter valued at approximately $753,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

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.