Bank of America Issues Pessimistic Forecast for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBLGet Free Report) had its price objective decreased by research analysts at Bank of America from $3.50 to $3.30 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s target price indicates a potential downside of 12.47% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Bumble from an “underweight” rating to a “neutral” rating in a research report on Thursday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $5.00 price target on shares of Bumble in a report on Thursday. Jefferies Financial Group decreased their price objective on Bumble from $5.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Susquehanna reaffirmed a “neutral” rating and set a $3.50 target price on shares of Bumble in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bumble in a report on Monday, December 29th. Fourteen equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $4.34.

Read Our Latest Research Report on Bumble

Bumble Stock Performance

NASDAQ:BMBL opened at $3.77 on Thursday. The stock’s 50-day moving average is $3.26 and its 200-day moving average is $4.39. Bumble has a 1-year low of $2.61 and a 1-year high of $8.64. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 0.97. The stock has a market cap of $425.03 million, a P/E ratio of -0.62, a price-to-earnings-growth ratio of 0.13 and a beta of 1.96.

Bumble (NASDAQ:BMBLGet Free Report) last issued its quarterly earnings data on Wednesday, March 11th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.79. Bumble had a negative net margin of 72.74% and a positive return on equity of 22.13%. The business had revenue of $224.17 million during the quarter, compared to analyst estimates of $221.45 million. During the same quarter last year, the business earned $0.17 EPS. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. Equities research analysts anticipate that Bumble will post 4.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMBL. Maple Rock Capital Partners Inc. bought a new stake in Bumble during the 2nd quarter worth approximately $30,127,000. Vanguard Group Inc. lifted its holdings in shares of Bumble by 52.0% in the third quarter. Vanguard Group Inc. now owns 11,164,004 shares of the company’s stock valued at $67,989,000 after purchasing an additional 3,820,205 shares in the last quarter. Saba Capital Management L.P. lifted its holdings in shares of Bumble by 52.6% in the fourth quarter. Saba Capital Management L.P. now owns 5,337,549 shares of the company’s stock valued at $19,055,000 after purchasing an additional 1,838,923 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Bumble during the third quarter valued at approximately $6,013,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Bumble during the fourth quarter valued at approximately $3,516,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

More Bumble News

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Bumble Company Profile

(Get Free Report)

Bumble Inc operates a technology platform designed to facilitate social and professional connections through its suite of apps, most notably the flagship Bumble dating app. The company’s core premise is to empower users—particularly women—to make the first move, helping to reshape traditional dating dynamics. In addition to its dating function, Bumble offers mode-switching features that allow users to find friends through “Bumble BFF” or pursue professional networking opportunities via “Bumble Bizz.”

Beyond the Bumble app, the company also owns and operates Badoo, a social discovery platform with a substantial global footprint, particularly in Europe and Latin America.

Further Reading

Analyst Recommendations for Bumble (NASDAQ:BMBL)

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