UBS Group Raises Bumble (NASDAQ:BMBL) Price Target to $6.00

Bumble (NASDAQ:BMBL) had its target price boosted by equities research analysts at UBS Group from $5.00 to $6.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 3.99% from the company’s current price.

BMBL has been the subject of several other research reports. Morgan Stanley decreased their price objective on shares of Bumble from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Piper Sandler decreased their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Susquehanna decreased their price objective on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Evercore ISI decreased their price objective on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.71.

Bumble Trading Down 0.7%

BMBL opened at $5.77 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. Bumble has a fifty-two week low of $3.55 and a fifty-two week high of $12.49. The firm has a market capitalization of $609.00 million, a PE ratio of -1.18 and a beta of 1.76. The company’s 50-day moving average is $4.56 and its 200 day moving average is $6.56.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Bumble had a positive return on equity of 3.31% and a negative net margin of 54.19%. The business had revenue of $247.10 million during the quarter, compared to analyst estimates of $246.68 million. During the same quarter in the prior year, the company earned $0.19 EPS. The company’s revenue was down 7.7% on a year-over-year basis. As a group, research analysts predict that Bumble will post 4.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Pale Fire Capital SE purchased a new position in Bumble in the 1st quarter valued at approximately $43,000. Vident Advisory LLC purchased a new position in Bumble in the 1st quarter valued at approximately $48,000. Teacher Retirement System of Texas purchased a new position in Bumble in the 1st quarter valued at approximately $49,000. Tyche Wealth Partners LLC purchased a new position in Bumble in the 1st quarter valued at approximately $52,000. Finally, Kestra Private Wealth Services LLC purchased a new position in Bumble in the 1st quarter valued at approximately $54,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

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 apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.