Bumble (NASDAQ:BMBL) Price Target Cut to $12.00

Bumble (NASDAQ:BMBL) had its target price decreased by Bank of America from $14.00 to $12.00 in a report released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Evercore ISI raised their price objective on shares of Bumble from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Thursday, May 9th. Morgan Stanley decreased their target price on shares of Bumble from $13.00 to $12.00 and set an equal weight rating for the company in a research note on Wednesday, July 10th. Wolfe Research began coverage on shares of Bumble in a research note on Tuesday, July 16th. They set an outperform rating and a $14.00 target price for the company. Citigroup decreased their target price on shares of Bumble from $14.00 to $12.00 and set a buy rating for the company in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bumble from $15.00 to $13.00 and set a hold rating for the company in a research note on Thursday, May 9th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Bumble presently has a consensus rating of Moderate Buy and a consensus price target of $14.72.

Bumble Trading Down 2.5 %

Bumble stock traded down $0.20 during midday trading on Monday, reaching $7.91. The stock had a trading volume of 3,079,240 shares, compared to its average volume of 2,870,399. The firm’s fifty day simple moving average is $10.02 and its two-hundred day simple moving average is $11.14. Bumble has a twelve month low of $7.73 and a twelve month high of $18.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market cap of $998.23 million, a price-to-earnings ratio of 46.53 and a beta of 1.70.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. During the same quarter last year, the business posted ($0.01) EPS. The company’s revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that Bumble will post 0.9 EPS for the current fiscal year.

Insider Transactions at Bumble

In other news, Director Ann Mather sold 7,492 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total transaction of $85,483.72. Following the transaction, the director now owns 29,030 shares in the company, valued at approximately $331,232.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

Several institutional investors have recently made changes to their positions in BMBL. Headlands Technologies LLC boosted its position in shares of Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,092 shares in the last quarter. Innealta Capital LLC acquired a new position in Bumble in the second quarter valued at about $64,000. EverSource Wealth Advisors LLC boosted its position in Bumble by 73.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock valued at $77,000 after buying an additional 2,210 shares in the last quarter. nVerses Capital LLC boosted its position in Bumble by 128.3% in the second quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock valued at $127,000 after buying an additional 6,800 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Bumble in the fourth quarter valued at about $162,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

About Bumble

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.