Zacks Investment Research Lowers Bumble (NASDAQ:BMBL) to Hold

Zacks Investment Research downgraded shares of Bumble (NASDAQ:BMBLGet Rating) from a buy rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

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. “

A number of other research firms have also commented on BMBL. Loop Capital reduced their price objective on Bumble from $30.00 to $20.00 in a research note on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft started coverage on Bumble in a research note on Friday, March 11th. They issued a hold rating and a $28.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on Bumble from $54.00 to $42.00 and set a buy rating on the stock in a research note on Wednesday, March 9th. Susquehanna cut their price target on Bumble from $33.00 to $24.00 in a research note on Thursday. Finally, Royal Bank of Canada cut their price target on Bumble from $35.00 to $30.00 in a research note on Thursday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $39.59.

NASDAQ:BMBL traded up $3.18 during trading hours on Friday, reaching $25.54. The company had a trading volume of 6,082,646 shares, compared to its average volume of 2,262,398. The stock has a 50-day moving average of $25.36 and a two-hundred day moving average of $30.76. Bumble has a one year low of $15.41 and a one year high of $61.05. The firm has a market capitalization of $3.31 billion, a PE ratio of -364.81 and a beta of 1.60. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.25.

Bumble (NASDAQ:BMBLGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Bumble had a negative return on equity of 0.58% and a negative net margin of 0.94%. During the same period in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts expect that Bumble will post 0.27 earnings per share for the current year.

In other Bumble news, Director Amy Griffin purchased 35,200 shares of the stock in a transaction on 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 available through this link.

Several institutional investors have recently made changes to their positions in BMBL. JPMorgan Chase & Co. grew its holdings in shares of Bumble by 35.1% during the first quarter. JPMorgan Chase & Co. now owns 13,492,883 shares of the company’s stock worth $391,024,000 after buying an additional 3,507,511 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Bumble during the fourth quarter worth about $105,635,000. Accel Leaders Fund II Associates L.L.C. bought a new position in shares of Bumble during the fourth quarter worth about $57,019,000. Lord Abbett & CO. LLC grew its holdings in shares of Bumble by 667.7% during the first quarter. Lord Abbett & CO. LLC now owns 1,250,485 shares of the company’s stock worth $36,239,000 after buying an additional 1,087,602 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Bumble by 92.6% during the first quarter. Eagle Asset Management Inc. now owns 2,004,357 shares of the company’s stock worth $58,086,000 after buying an additional 963,702 shares in the last quarter. 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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