Royal Bank Of Canada Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price objective lowered by equities researchers at Royal Bank Of Canada from $5.00 to $4.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 42.10% from the company’s current price.

Several other research analysts have also commented on BMBL. UBS Group boosted their price objective on shares of Bumble from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Susquehanna lowered their target price on shares of Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday. Wells Fargo & Company cut their price target on shares of Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday. Citigroup reduced their price target on Bumble from $3.90 to $3.60 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bumble in a report on Tuesday. One analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.99.

Bumble Stock Down 1.2%

BMBL stock traded down $0.04 during trading on Friday, reaching $2.81. 1,270,280 shares of the company traded hands, compared to its average volume of 3,560,501. The business has a 50 day simple moving average of $2.98 and a 200 day simple moving average of $3.27. Bumble has a 12 month low of $2.54 and a 12 month high of $7.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $365.44 million, a price-to-earnings ratio of -0.67, a price-to-earnings-growth ratio of 0.10 and a beta of 1.87.

Bumble (NASDAQ:BMBL) last announced its earnings results on Wednesday, August 5th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.09). The firm had revenue of $210.53 million during the quarter, compared to the consensus estimate of $210.46 million. Bumble had a positive return on equity of 33.68% and a negative net margin of 58.99%.The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.45) earnings per share. On average, equities research analysts anticipate that Bumble will post 1.03 earnings per share for the current fiscal year.

Insider Activity at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the 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 transaction, the insider directly owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings Gp Man Blackstone III sold 7,477,500 shares of the firm’s 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 owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,954,026 shares of company stock worth $113,182,633 in the last quarter. 15.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Bumble

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wexford Capital LP purchased a new stake in Bumble in the third quarter valued at $31,000. EFG International AG purchased a new position in shares of Bumble during the 4th quarter valued at about $25,000. Oppenheimer & Co. Inc. acquired a new position in shares of Bumble in the 4th quarter valued at about $36,000. StoneX Group Inc. acquired a new position in shares of Bumble in the 4th quarter valued at about $36,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of Bumble in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.