Bumble (NASDAQ:BMBL) Now Covered by Wolfe Research

Wolfe Research started coverage on shares of Bumble (NASDAQ:BMBL) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $14.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of Bumble from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, May 9th. Evercore ISI raised their price target on shares of Bumble from $17.00 to $18.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. Citigroup reduced their price target on shares of Bumble from $14.00 to $12.00 and set a buy rating for the company in a research report on Monday, July 15th. Bank of America raised shares of Bumble from a neutral rating to a buy rating and set a $14.00 target price for the company in a report on Friday, May 10th. Finally, 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 report on Monday, May 6th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $14.96.

Bumble Stock Performance

Shares of Bumble stock opened at $8.82 on Tuesday. The firm has a market capitalization of $1.11 billion, a P/E ratio of 51.88 and a beta of 1.70. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $10.66 and a 200 day moving average price of $11.57. Bumble has a 52 week low of $8.70 and a 52 week high of $19.98.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (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 company had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. During the same period last year, the firm posted ($0.01) EPS. Bumble’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Bumble will post 0.9 EPS for the current year.

Insiders Place Their Bets

In other Bumble news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction on Friday, June 7th. The shares were sold at an average price of $11.41, for a total transaction of $85,483.72. Following the sale, the director now owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BMBL. Vanguard Group Inc. boosted its position in shares of Bumble by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after acquiring an additional 297,286 shares during the last quarter. Moody National Bank Trust Division boosted its position in shares of Bumble by 20.1% during the 4th quarter. Moody National Bank Trust Division now owns 63,007 shares of the company’s stock valued at $929,000 after acquiring an additional 10,530 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Bumble by 15.1% during the 4th quarter. SG Americas Securities LLC now owns 23,336 shares of the company’s stock valued at $344,000 after acquiring an additional 3,062 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Bumble during the 4th quarter valued at about $68,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bumble by 17.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,355 shares of the company’s stock valued at $1,700,000 after acquiring an additional 16,869 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

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.