The Goldman Sachs Group Lowers Bumble (NASDAQ:BMBL) Price Target to $9.00

Bumble (NASDAQ:BMBL) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $18.00 to $9.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 50.50% from the company’s current price.

A number of other equities research analysts also recently weighed in on BMBL. BTIG Research downgraded shares of Bumble from a “buy” rating to a “neutral” rating in a research note on Thursday. Stifel Nicolaus cut shares of Bumble from a “buy” rating to a “hold” rating and lowered their target price for the company from $13.00 to $6.50 in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bumble from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday. Bank of America lowered Bumble from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $12.00 to $5.50 in a research note on Thursday. Finally, Susquehanna downgraded Bumble from a “positive” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $6.00 in a research report on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.91.

Bumble Stock Performance

Bumble stock traded up $0.27 on Friday, reaching $5.98. 8,717,995 shares of the stock were exchanged, compared to its average volume of 3,150,074. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. Bumble has a twelve month low of $4.80 and a twelve month high of $17.31. The firm has a fifty day moving average price of $9.66 and a two-hundred day moving average price of $10.96. The stock has a market cap of $754.67 million, a PE ratio of 35.18 and a beta of 1.70.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The company had revenue of $268.60 million during the quarter, compared to analyst estimates of $273.04 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Bumble will post 0.9 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Bumble

A number of institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC increased its holdings in Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,092 shares in the last quarter. 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 worth $77,000 after purchasing an additional 2,210 shares during the last quarter. Innealta Capital LLC bought a new position in Bumble during the second quarter valued at about $64,000. Meeder Asset Management Inc. bought a new stake in shares of Bumble in the 2nd quarter worth approximately $82,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Bumble during the 4th quarter valued at $162,000. 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.