Bank of America Lowers Bumble (NASDAQ:BMBL) Price Target to $12.00

Bumble (NASDAQ:BMBL) had its price objective trimmed by Bank of America from $14.00 to $12.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on BMBL. Morgan Stanley cut their price objective on Bumble from $13.00 to $12.00 and set an equal weight rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their target price on Bumble from $15.00 to $13.00 and set a hold rating on the stock in a report on Thursday, May 9th. Wolfe Research assumed coverage on Bumble in a report on Tuesday, July 16th. They issued an outperform rating and a $14.00 price objective for the company. Citigroup reduced their target price on shares of Bumble from $14.00 to $12.00 and set a buy rating on the stock in a research report on Monday, July 15th. Finally, Evercore ISI boosted their price objective on shares of Bumble from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Bumble currently has a consensus rating of Hold and a consensus price target of $10.85.

Bumble Stock Performance

NASDAQ BMBL opened at $5.71 on Monday. The firm has a market cap of $720.60 million, a price-to-earnings ratio of 33.59 and a beta of 1.70. The company has a 50-day simple moving average of $9.77 and a two-hundred day simple moving average of $11.04. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.46. Bumble has a 12-month low of $4.80 and a 12-month high of $17.42.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. Bumble had a return on equity of 0.92% and a net margin of 2.04%. 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. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts forecast 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 firm’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 value of $85,483.72. Following the sale, the director now owns 29,030 shares in the company, valued at $331,232.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.84% of the company’s stock.

Institutional Trading of Bumble

A number of hedge funds have recently bought and sold shares of BMBL. Headlands Technologies LLC increased its holdings in Bumble by 98.6% during the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after buying an additional 1,092 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Bumble by 73.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock valued at $77,000 after purchasing an additional 2,210 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Bumble in the second quarter worth approximately $64,000. Meeder Asset Management Inc. bought a new stake in shares of Bumble during the 2nd quarter valued at $82,000. Finally, Neo Ivy Capital Management bought a new position in Bumble in the 4th quarter worth $162,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.