Susquehanna Lowers Bumble (NASDAQ:BMBL) Price Target to $17.00

Bumble (NASDAQ:BMBL) had its target price cut by equities researchers at Susquehanna from $25.00 to $17.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 25.28% from the stock’s current price.

BMBL has been the subject of a number of other reports. KeyCorp reduced their target price on shares of Bumble from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday. Piper Sandler increased their target price on shares of Bumble from $18.00 to $20.00 in a research report on Friday, July 14th. HSBC assumed coverage on shares of Bumble in a research report on Tuesday, September 26th. They issued a “buy” rating and a $20.30 target price for the company. Loop Capital raised shares of Bumble from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Friday, September 29th. They noted that the move was a valuation call. Finally, Royal Bank of Canada dropped their price objective on shares of Bumble from $23.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Bumble currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.35.

Bumble Stock Performance

NASDAQ:BMBL opened at $13.57 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.82 and a current ratio of 2.82. The company has a fifty day moving average of $14.48 and a two-hundred day moving average of $16.33. The stock has a market capitalization of $1.85 billion, a PE ratio of -19.67 and a beta of 1.86. Bumble has a fifty-two week low of $12.29 and a fifty-two week high of $27.92.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $275.50 million during the quarter, compared to analysts’ expectations of $277.00 million. Bumble had a negative net margin of 8.70% and a positive return on equity of 1.79%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. As a group, research analysts forecast that Bumble will post 0.23 earnings per share for the current fiscal year.

Institutional Trading of Bumble

Several hedge funds have recently made changes to their positions in BMBL. BlackRock Inc. lifted its position in shares of Bumble by 43.2% during the first quarter. BlackRock Inc. now owns 9,106,511 shares of the company’s stock worth $178,032,000 after purchasing an additional 2,747,104 shares in the last quarter. State Street Corp lifted its position in shares of Bumble by 305.3% during the second quarter. State Street Corp now owns 1,745,907 shares of the company’s stock worth $49,147,000 after purchasing an additional 1,315,091 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Bumble during the first quarter worth about $24,821,000. Balyasny Asset Management L.P. lifted its position in shares of Bumble by 453.0% during the first quarter. Balyasny Asset Management L.P. now owns 1,508,003 shares of the company’s stock worth $29,481,000 after purchasing an additional 1,235,305 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Bumble by 14.1% during the first quarter. Wellington Management Group LLP now owns 9,196,831 shares of the company’s stock worth $179,798,000 after purchasing an additional 1,134,818 shares in the last quarter. Institutional investors and hedge funds 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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.