Bumble (NASDAQ:BMBL) Lowered to Sector Weight at KeyCorp

KeyCorp downgraded shares of Bumble (NASDAQ:BMBL) from an overweight rating to a sector weight rating in a research report released on Friday morning, MarketBeat reports. KeyCorp also issued estimates for Bumble’s Q1 2025 earnings at $0.10 EPS.

Several other brokerages also recently issued reports on BMBL. Royal Bank of Canada lowered their price target on shares of Bumble from $16.00 to $8.00 and set an outperform rating for the company in a report on Thursday, August 8th. HSBC reaffirmed a hold rating on shares of Bumble in a report on Friday, August 9th. Piper Sandler cut their price target on Bumble from $13.00 to $7.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Wolfe Research began coverage on Bumble in a research note on Tuesday, July 16th. They issued an outperform rating and a $14.00 price objective for the company. Finally, BTIG Research downgraded shares of Bumble from a buy rating to a neutral rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Bumble has an average rating of Hold and a consensus target price of $8.50.

Bumble Price Performance

Bumble stock opened at $6.38 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38. Bumble has a 52 week low of $4.80 and a 52 week high of $15.90. The stock has a market capitalization of $805.15 million, a P/E ratio of 37.53 and a beta of 1.66. The stock has a fifty day moving average of $6.94 and a 200-day moving average of $9.34.

Bumble (NASDAQ:BMBL) last issued its 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. The firm had revenue of $268.60 million during the quarter, compared to the consensus estimate of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, sell-side analysts expect that Bumble will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bumble

A number of institutional investors and hedge funds have recently modified their holdings of BMBL. Innealta Capital LLC acquired a new position in shares of Bumble during the 2nd quarter valued at $64,000. Meeder Asset Management Inc. bought a new position in shares of Bumble during the 2nd quarter worth about $82,000. Headlands Technologies LLC acquired a new stake in shares of Bumble in the 2nd quarter valued at about $94,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Bumble in the 2nd quarter valued at about $111,000. Finally, nVerses Capital LLC raised its stake in Bumble by 128.3% during the 2nd quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $127,000 after buying an additional 6,800 shares during the period. 94.85% of the stock is currently owned by institutional investors.

About Bumble

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.