Zacks Investment Research Upgrades Bumble (NASDAQ:BMBL) to “Buy”

Bumble (NASDAQ:BMBLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm currently has a $22.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 14.40% from the company’s previous close.

According to Zacks, “Bumble Inc. is the parent company of Badoo and Bumble, two of the world’s highest-grossing dating apps with millions of users worldwide. The Bumble platform enables people to connect and build equitable and healthy relationships. Founded by CEO Whitney Wolfe Herd in 2014, the Bumble app is one of the first dating apps built with women at the center, and the Badoo app, which was founded in 2006, is one of the pioneers of web and mobile dating products. “

Several other analysts have also recently weighed in on BMBL. Susquehanna dropped their price target on Bumble from $58.00 to $33.00 and set a “positive” rating for the company in a report on Thursday, March 10th. Piper Sandler reduced their target price on shares of Bumble from $35.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 9th. Loop Capital decreased their price target on shares of Bumble from $30.00 to $20.00 in a research note on Wednesday, March 9th. Raymond James dropped their price objective on shares of Bumble from $48.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, March 9th. Finally, The Goldman Sachs Group decreased their target price on shares of Bumble from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Bumble presently has a consensus rating of “Buy” and a consensus price target of $41.18.

NASDAQ:BMBL opened at $19.23 on Tuesday. The company has a market cap of $2.49 billion, a P/E ratio of 12.91 and a beta of 1.60. The firm’s fifty day moving average price is $25.21 and its two-hundred day moving average price is $31.39. Bumble has a one year low of $15.41 and a one year high of $61.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.71 and a quick ratio of 2.71.

Bumble (NASDAQ:BMBLGet Rating) last announced its quarterly earnings results on Tuesday, March 8th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $208.22 million during the quarter, compared to analyst estimates of $209.18 million. Bumble had a net margin of 41.50% and a negative return on equity of 1.73%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. As a group, equities research analysts expect that Bumble will post 0.29 earnings per share for the current year.

In related news, Director Amy Griffin purchased 35,200 shares of the stock in a transaction dated Thursday, March 17th. The stock was bought at an average cost of $28.37 per share, for a total transaction of $998,624.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

A number of institutional investors have recently bought and sold shares of BMBL. SG Americas Securities LLC boosted its stake in shares of Bumble by 4.8% during the third quarter. SG Americas Securities LLC now owns 4,361 shares of the company’s stock valued at $218,000 after purchasing an additional 200 shares in the last quarter. Evolution Wealth Advisors LLC grew its holdings in Bumble by 120.8% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 680 shares of the company’s stock worth $34,000 after acquiring an additional 372 shares during the last quarter. Advisor Group Holdings Inc. increased its position in Bumble by 2.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 16,549 shares of the company’s stock valued at $471,000 after acquiring an additional 425 shares during the period. Carolinas Wealth Consulting LLC raised its stake in shares of Bumble by 84.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,082 shares of the company’s stock valued at $37,000 after acquiring an additional 496 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Bumble by 3.9% during the first quarter. Teacher Retirement System of Texas now owns 14,344 shares of the company’s stock worth $416,000 after purchasing an additional 538 shares during the period. Hedge funds and other institutional investors own 98.62% of the company’s stock.

About Bumble (Get Rating)

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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.

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