Bumble (NASDAQ:BMBL) Receives “Underweight” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of Bumble (NASDAQ:BMBL) in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $5.00 price target on the stock.

A number of other brokerages also recently commented on BMBL. Royal Bank of Canada decreased their target price on Bumble from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Piper Sandler reduced their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. UBS Group boosted their price objective on Bumble from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Citigroup reduced their price objective on Bumble from $6.80 to $4.80 and set a “neutral” rating for the company in a research report on Friday, April 25th. Finally, Stifel Nicolaus reduced their price objective on Bumble from $6.00 to $4.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.58.

Bumble Stock Performance

Shares of BMBL stock opened at $5.37 on Tuesday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average of $4.81 and a two-hundred day moving average of $6.38. Bumble has a 52 week low of $3.55 and a 52 week high of $12.03. The company has a market cap of $554.67 million, a P/E ratio of -1.10 and a beta of 1.76.

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

Institutional Trading of Bumble

Large investors have recently added to or reduced their stakes in the company. RPD Fund Management LLC purchased a new position in shares of Bumble during the 4th quarter valued at $30,940,000. Ameriprise Financial Inc. grew its holdings in shares of Bumble by 25.5% during the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock valued at $51,953,000 after acquiring an additional 1,298,630 shares in the last quarter. Federated Hermes Inc. bought a new stake in Bumble in the first quarter worth $3,231,000. RBF Capital LLC bought a new stake in Bumble in the fourth quarter worth $5,157,000. Finally, First Trust Advisors LP boosted its holdings in Bumble by 429.5% in the fourth quarter. First Trust Advisors LP now owns 772,394 shares of the company’s stock worth $6,287,000 after purchasing an additional 626,528 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

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.