Bumble (NASDAQ:BMBL) Downgraded by Bank of America to Underperform

Bank of America lowered shares of Bumble (NASDAQ:BMBL) from a buy rating to an underperform rating in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have $5.50 price objective on the stock, down from their prior price objective of $12.00.

A number of other analysts also recently issued reports on the stock. Morgan Stanley cut their price target on shares of Bumble from $13.00 to $12.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. KeyCorp cut their target price on Bumble from $16.00 to $11.00 and set an overweight rating for the company in a research note on Tuesday, July 30th. Evercore ISI upped their price target on Bumble from $17.00 to $18.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Wells Fargo & Company cut Bumble from an overweight rating to an equal weight rating and lowered their price target for the stock from $15.00 to $10.00 in a report on Monday, July 8th. Finally, Wolfe Research assumed coverage on shares of Bumble in a research report on Tuesday, July 16th. They issued an outperform rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bumble has an average rating of Hold and a consensus price target of $9.91.

Bumble Stock Performance

Shares of Bumble stock opened at $5.98 on Thursday. The business’s 50 day moving average price is $9.66 and its 200 day moving average price is $10.94. The company has a market cap of $754.67 million, a price-to-earnings ratio of 35.18 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.96 and a current ratio of 1.96. Bumble has a one year low of $4.80 and a one year high of $17.31.

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

Insider Buying and Selling at Bumble

In related news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction that occurred 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 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 can be accessed through this link. 7.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bumble

Several institutional investors have recently modified their holdings of BMBL. Vanguard Group Inc. raised its stake in 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 buying an additional 613,759 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bumble by 39.2% in the 4th 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 last quarter. Goldman Sachs Group Inc. raised its position in shares of Bumble by 12.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after acquiring an additional 397,741 shares in the last quarter. Granahan Investment Management LLC lifted its stake in Bumble by 9.0% during the fourth quarter. Granahan Investment Management LLC now owns 1,368,783 shares of the company’s stock worth $20,176,000 after purchasing an additional 113,277 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings 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. 94.85% of the stock is owned by hedge funds and other 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.