Bumble (NASDAQ:BMBL) Stock Rating Lowered by The Goldman Sachs Group

Bumble (NASDAQ:BMBL) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat.com reports. They currently have a $7.00 price objective on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 19.45% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Morgan Stanley upped their price objective on Bumble from $5.50 to $6.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Royal Bank Of Canada upped their price objective on Bumble from $7.00 to $7.50 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bumble in a research report on Saturday, September 27th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Bumble in a research report on Friday, June 27th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $7.00 price objective (up previously from $5.00) on shares of Bumble in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $6.46.

Bumble Stock Down 3.0%

Shares of NASDAQ BMBL opened at $5.86 on Friday. The company has a 50 day simple moving average of $6.68 and a 200-day simple moving average of $5.84. The company has a market capitalization of $609.50 million, a P/E ratio of -1.20, a P/E/G ratio of 0.82 and a beta of 1.94. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.30 and a quick ratio of 3.30. Bumble has a 1 year low of $3.55 and a 1 year high of $9.22.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 10.35%. The business had revenue of $248.23 million during the quarter, compared to the consensus estimate of $243.72 million. During the same quarter last year, the firm earned $0.22 EPS. The business’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts predict that Bumble will post 4.19 earnings per share for the current year.

Insider Activity

In other Bumble news, major shareholder Buzz Holdings L.P. Bcp sold 16,689,884 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Whitney Wolfe Herd sold 1,365,116 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $8,545,626.16. Following the completion of the transaction, the chief executive officer directly owned 1,598,258 shares of the company’s stock, valued at approximately $10,005,095.08. This trade represents a 46.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,124,652 shares of company stock valued at $426,460,322 over the last ninety days. 15.84% of the stock is currently owned by company insiders.

Institutional Trading of Bumble

Large investors have recently modified their holdings of the business. Pale Fire Capital SE acquired a new stake in shares of Bumble in the first quarter valued at approximately $43,000. Spire Wealth Management acquired a new stake in shares of Bumble in the second quarter valued at approximately $71,000. Vident Advisory LLC acquired a new stake in shares of Bumble in the first quarter valued at approximately $48,000. Tower Research Capital LLC TRC grew its position in shares of Bumble by 182.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,117 shares of the company’s stock valued at $73,000 after purchasing an additional 7,185 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Bumble during the first quarter worth approximately $49,000. 94.85% of the stock is currently 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.