Bumble (NASDAQ:BMBL) Price Target Cut to $16.00 by Analysts at KeyCorp

Bumble (NASDAQ:BMBL) had its price target reduced by investment analysts at KeyCorp from $18.00 to $16.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 55.49% from the company’s current price.

Several other equities research analysts have also recently issued reports on BMBL. BTIG Research decreased their price objective on Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. decreased their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $16.00 price objective on shares of Bumble in a report on Wednesday, February 28th. Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Finally, Raymond James restated a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.52.

Bumble Price Performance

Shares of BMBL traded up $0.15 on Monday, reaching $10.29. The stock had a trading volume of 564,003 shares, compared to its average volume of 2,834,572. The firm has a market capitalization of $1.33 billion, a PE ratio of -342.00, a PEG ratio of 0.28 and a beta of 1.67. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $10.83 and a 200 day moving average of $12.91. Bumble has a twelve month low of $9.93 and a twelve month high of $21.06.

Bumble (NASDAQ:BMBL) last announced its earnings results on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). The company had revenue of $273.64 million for the quarter, compared to analyst estimates of $275.38 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. Sell-side analysts expect that Bumble will post 0.66 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Bumble stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

A number of hedge funds have recently bought and sold shares of BMBL. SG Americas Securities LLC boosted its stake in Bumble by 90.8% in the third quarter. SG Americas Securities LLC now owns 20,274 shares of the company’s stock valued at $302,000 after acquiring an additional 9,646 shares during the period. Raymond James & Associates raised its holdings in shares of Bumble by 100.8% during the third quarter. Raymond James & Associates now owns 195,919 shares of the company’s stock valued at $2,923,000 after buying an additional 98,361 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bumble by 4.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,486 shares of the company’s stock valued at $1,469,000 after buying an additional 4,623 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Bumble by 14.4% during the third quarter. 180 Wealth Advisors LLC now owns 20,523 shares of the company’s stock valued at $306,000 after buying an additional 2,583 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Bumble by 39.4% during the third quarter. Principal Financial Group Inc. now owns 15,048 shares of the company’s stock valued at $225,000 after buying an additional 4,254 shares during the last quarter. 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.