Bumble Inc. (NASDAQ:BMBL – Get Free Report) saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 3,235,017 shares traded hands during trading, an increase of 36% from the previous session’s volume of 2,370,515 shares.The stock last traded at $13.89 and had previously closed at $13.42.
The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The company had revenue of $275.50 million for the quarter, compared to analysts’ expectations of $277.00 million. Bumble had a positive return on equity of 1.82% and a negative net margin of 8.94%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their price target on Bumble from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America reiterated a “neutral” rating and issued a $17.00 price target on shares of Bumble in a report on Thursday, October 19th. Morgan Stanley decreased their price target on Bumble from $22.00 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on Bumble from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, HSBC assumed coverage on Bumble in a report on Tuesday, September 26th. They issued a “buy” rating and a $20.30 price target on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Bumble has a consensus rating of “Moderate Buy” and a consensus price target of $22.35.
Hedge Funds Weigh In On Bumble
Several institutional investors have recently modified their holdings of BMBL. Raymond James & Associates lifted its holdings in shares of Bumble by 23.5% during the 1st quarter. Raymond James & Associates now owns 88,080 shares of the company’s stock valued at $2,553,000 after purchasing an additional 16,777 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Bumble during the 1st quarter valued at about $491,000. Bank of Montreal Can bought a new position in shares of Bumble during the 1st quarter valued at about $295,000. Allianz Asset Management GmbH lifted its holdings in shares of Bumble by 43.8% during the 1st quarter. Allianz Asset Management GmbH now owns 15,316 shares of the company’s stock valued at $444,000 after purchasing an additional 4,662 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Bumble by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 7,285,122 shares of the company’s stock valued at $211,123,000 after purchasing an additional 68,604 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.
Bumble Price Performance
The firm has a market cap of $1.89 billion, a P/E ratio of -20.61 and a beta of 1.86. The company has a fifty day moving average price of $14.55 and a two-hundred day moving average price of $16.35. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.42.
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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