Citigroup Lowers Bumble (NASDAQ:BMBL) to Neutral

Citigroup cut shares of Bumble (NASDAQ:BMBL) from a buy rating to a neutral rating in a research note published on Thursday, MarketBeat Ratings reports. The firm currently has $6.00 price objective on the stock, down from their prior price objective of $12.00.

Other equities research analysts have also issued reports about the stock. Bank of America lowered shares of Bumble from a buy rating to an underperform rating and reduced their target price for the stock from $12.00 to $5.50 in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bumble from $15.00 to $13.00 and set a hold rating on the stock in a report on Thursday, May 9th. Wells Fargo & Company lowered shares of Bumble from an overweight rating to an equal weight rating and reduced their target price for the stock from $15.00 to $10.00 in a report on Monday, July 8th. Piper Sandler reduced their target price on shares of Bumble from $13.00 to $7.00 and set a neutral rating on the stock in a report on Thursday. Finally, Stifel Nicolaus lowered shares of Bumble from a buy rating to a hold rating and reduced their target price for the stock from $13.00 to $6.50 in a report on Thursday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $9.91.

Bumble Price Performance

BMBL stock traded up $0.27 during trading on Thursday, reaching $5.98. 8,717,618 shares of the company were exchanged, compared to its average volume of 3,150,074. The company has a 50-day moving average of $9.66 and a two-hundred day moving average of $10.98. The company has a market capitalization of $754.67 million, a price-to-earnings ratio of 35.18 and a beta of 1.70. Bumble has a twelve month low of $4.80 and a twelve month high of $17.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.96 and a quick ratio of 1.96.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. As a group, equities analysts predict that Bumble will post 0.9 earnings per share for the current fiscal year.

Insider Activity at Bumble

In other Bumble news, Director Ann Mather sold 7,492 shares of the 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 completion of the transaction, the director now owns 29,030 shares in the company, valued at $331,232.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Bumble by 6.0% in the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after acquiring an additional 613,759 shares during the period. Dimensional Fund Advisors LP raised its stake in Bumble by 39.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock valued at $53,055,000 after purchasing an additional 1,013,374 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Bumble by 12.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock valued at $52,904,000 after purchasing an additional 397,741 shares in the last quarter. Granahan Investment Management LLC raised its stake in Bumble by 9.0% in the fourth quarter. Granahan Investment Management LLC now owns 1,368,783 shares of the company’s stock valued at $20,176,000 after purchasing an additional 113,277 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Bumble by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,185,850 shares of the company’s stock valued at $17,479,000 after purchasing an additional 6,891 shares in the last quarter. Institutional investors own 94.85% of the company’s stock.

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.