Bumble’s (BMBL) “Neutral” Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Bumble (NASDAQ:BMBL) in a report released on Thursday,Benzinga reports. The brokerage currently has a $8.00 target price on the stock, up from their prior target price of $7.00.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada lowered their price target on Bumble from $16.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Hsbc Global Res downgraded shares of Bumble from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Evercore ISI downgraded shares of Bumble from an “outperform” rating to an “inline” rating and dropped their target price for the company from $18.00 to $8.00 in a report on Thursday, August 8th. Citigroup cut Bumble from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $12.00 to $6.00 in a research note on Thursday, August 8th. Finally, HSBC reiterated a “hold” rating on shares of Bumble in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.76.

Bumble Trading Up 4.0 %

NASDAQ BMBL traded up $0.31 on Thursday, reaching $8.09. 2,293,165 shares of the company were exchanged, compared to its average volume of 3,128,091. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $6.75 and its 200 day moving average price is $8.63. The stock has a market capitalization of $1.02 billion, a P/E ratio of 23.59 and a beta of 1.62. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.90.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The firm had revenue of $268.60 million during the quarter, compared to analyst estimates of $273.04 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Bumble’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts forecast that Bumble will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Bumble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMBL. Victory Capital Management Inc. grew its stake in Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after purchasing an additional 206,215 shares in the last quarter. Aigen Investment Management LP bought a new position in Bumble during the 3rd quarter valued at $173,000. Entropy Technologies LP acquired a new position in Bumble during the 3rd quarter worth $187,000. Versor Investments LP raised its stake in shares of Bumble by 25.3% in the 3rd quarter. Versor Investments LP now owns 38,600 shares of the company’s stock valued at $246,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Bumble in the third quarter worth about $181,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.