Bumble (NASDAQ:BMBL) Issues Quarterly Earnings Results

Bumble (NASDAQ:BMBL) posted its quarterly earnings data on Wednesday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03), FiscalAI reports. The firm had revenue of $207.09 million during the quarter, compared to analysts’ expectations of $209.61 million. Bumble had a negative net margin of 58.99% and a positive return on equity of 35.88%.

Bumble Trading Up 0.3%

Shares of BMBL stock traded up $0.02 during mid-day trading on Wednesday, reaching $6.00. The stock had a trading volume of 4,218,416 shares, compared to its average volume of 13,306,741. Bumble has a 52-week low of $2.44 and a 52-week high of $6.00. The firm has a market capitalization of $791.82 million, a PE ratio of -1.42 and a beta of 1.67. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average price is $3.86 and its two-hundred day moving average price is $3.39.

Wall Street Analysts Forecast Growth

Several research firms have commented on BMBL. Weiss Ratings raised shares of Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 12th. Susquehanna reduced their target price on Bumble from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. The Goldman Sachs Group cut their price target on shares of Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Wall Street Zen lowered Bumble from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Wells Fargo & Company decreased their price objective on Bumble from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $4.12.

Insiders Place Their Bets

In related news, major shareholder Holdings Gp Man Blackstone III sold 3,767,776 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the completion of the transaction, the insider owned 16,120 shares in the company, valued at $47,392.80. This represents a 99.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Buzz Holdings L.P. Bcp sold 3,767,776 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the completion of the transaction, the insider owned 16,120 shares of the company’s stock, valued at $47,392.80. This trade represents a 99.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,127,851 shares of company stock valued at $83,447,304 over the last three months. 15.35% of the stock is currently owned by corporate insiders.

About Bumble

Bumble Inc is a technology company that operates online dating and social networking platforms. Its flagship Bumble app is designed to help people make romantic connections, while emphasizing user control and safety in the online dating experience.

The company also operates Badoo, a dating platform with an international user base, and offers services focused on friendship and social connections through Bumble-branded products. Its platforms provide features such as profile discovery, matching, messaging, and paid options intended to enhance users’ experiences.

Founded in 2014 by Whitney Wolfe Herd, Bumble has expanded from its initial focus on dating to a broader range of personal-connection services.