Bank of America Cuts Bumble (NASDAQ:BMBL) Price Target to $3.30

Bumble (NASDAQ:BMBLFree Report) had its price target trimmed by Bank of America from $3.50 to $3.30 in a report issued on Thursday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $5.00 price target on shares of Bumble in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Bumble from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $4.00 target price on shares of Bumble in a report on Tuesday, January 20th. Susquehanna reissued a “neutral” rating and issued a $3.50 price target on shares of Bumble in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded Bumble from an “underweight” rating to a “neutral” rating in a research note on Thursday. Fourteen research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.34.

Check Out Our Latest Stock Analysis on Bumble

Bumble Stock Performance

Shares of Bumble stock opened at $3.77 on Thursday. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $425.03 million, a P/E ratio of -0.62, a P/E/G ratio of 0.13 and a beta of 1.96. The business has a fifty day simple moving average of $3.26 and a two-hundred day simple moving average of $4.37. Bumble has a 12 month low of $2.61 and a 12 month high of $8.64.

Bumble (NASDAQ:BMBLGet Free Report) last announced its earnings results on Wednesday, March 11th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.79. The firm had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $221.45 million. Bumble had a negative net margin of 72.74% and a positive return on equity of 22.13%. The company’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. On average, equities analysts forecast that Bumble will post 4.19 earnings per share for the current fiscal year.

Institutional Trading of Bumble

Institutional investors and hedge funds have recently bought and sold shares of the company. Maple Rock Capital Partners Inc. purchased a new position in Bumble in the second quarter worth about $30,127,000. Vanguard Group Inc. lifted its stake in shares of Bumble by 52.0% in the third quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock worth $67,989,000 after buying an additional 3,820,205 shares in the last quarter. Saba Capital Management L.P. grew its holdings in shares of Bumble by 52.6% during the fourth quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock valued at $19,055,000 after buying an additional 1,838,923 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Bumble during the third quarter valued at approximately $6,013,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Bumble during the fourth quarter valued at approximately $3,516,000. 94.85% of the stock is currently owned by institutional investors.

Key Headlines Impacting Bumble

Here are the key news stories impacting Bumble this week:

Bumble Company Profile

(Get Free Report)

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.

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Analyst Recommendations for Bumble (NASDAQ:BMBL)

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