Bumble (NASDAQ:BMBL) Given New $12.00 Price Target at Citigroup

Bumble (NASDAQ:BMBL) had its price objective trimmed by Citigroup from $14.00 to $12.00 in a report published on Monday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the company. Raymond James restated a market perform rating on shares of Bumble in a research report on Thursday, April 4th. KeyCorp cut their target price on shares of Bumble from $18.00 to $16.00 and set an overweight rating for the company in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bumble from $15.00 to $13.00 and set a hold rating on the stock in a research report on Thursday, May 9th. Wells Fargo & Company downgraded Bumble from an overweight rating to an equal weight rating and cut their price objective for the stock from $15.00 to $10.00 in a research report on Monday, July 8th. Finally, The Goldman Sachs Group lowered their target price on Bumble from $18.00 to $15.00 and set a buy rating on the stock in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $14.96.

Bumble Stock Down 4.0 %

BMBL stock opened at $9.04 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $10.72 and its 200 day moving average price is $11.61. Bumble has a 52 week low of $8.99 and a 52 week high of $20.42. The company has a market cap of $1.14 billion, a P/E ratio of 53.18 and a beta of 1.70.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The business had revenue of $267.80 million for the quarter, compared to analyst estimates of $265.41 million. During the same quarter in the previous year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that Bumble will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Bumble

In other news, Director Ann Mather sold 7,492 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the transaction, the director now directly owns 29,030 shares in the company, valued at $331,232.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bumble

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Bumble during the fourth quarter valued at about $16,112,000. Dimensional Fund Advisors LP raised its holdings in shares of Bumble by 39.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after acquiring an additional 1,013,374 shares during the period. Boston Partners purchased a new stake in shares of Bumble in the 4th quarter valued at approximately $10,678,000. Vanguard Group Inc. boosted its stake in Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after purchasing an additional 613,759 shares during the period. Finally, Archon Capital Management LLC purchased a new position in Bumble during the 1st quarter worth approximately $6,370,000. 94.85% of the stock is owned by institutional investors.

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.