Bumble (NASDAQ:BMBL) Given Market Perform Rating at Raymond James

Bumble (NASDAQ:BMBLGet Free Report)‘s stock had its “market perform” rating reissued by stock analysts at Raymond James in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

Several other equities research analysts have also issued reports on the stock. BTIG Research lowered their target price on shares of Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Wells Fargo & Company began coverage on shares of Bumble in a research note on Thursday, December 7th. They issued an “overweight” rating and a $19.00 price target on the stock. Morgan Stanley reduced their price target on shares of Bumble from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (down previously from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.52.

View Our Latest Stock Analysis on BMBL

Bumble Trading Up 0.7 %

Shares of NASDAQ BMBL opened at $11.22 on Thursday. The company has a market cap of $1.45 billion, a PE ratio of -374.00, a P/E/G ratio of 0.31 and a beta of 1.68. The firm’s 50 day moving average price is $12.23 and its 200-day moving average price is $13.54. Bumble has a 52-week low of $10.36 and a 52-week high of $21.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.01.

Bumble (NASDAQ:BMBLGet Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). The business had revenue of $273.64 million for the quarter, compared to analysts’ expectations of $275.38 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. On average, equities research analysts expect that Bumble will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the SEC, which is available at this link. 7.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bumble

Several hedge funds and other institutional investors have recently modified their holdings of BMBL. Raymond James & Associates lifted its stake in shares of Bumble by 23.5% in the 1st quarter. Raymond James & Associates now owns 88,080 shares of the company’s stock valued at $2,553,000 after purchasing an additional 16,777 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Bumble during the 1st quarter worth approximately $491,000. Bank of Montreal Can acquired a new position in Bumble during the 1st quarter worth approximately $295,000. Allianz Asset Management GmbH lifted its position in Bumble by 43.8% during the 1st quarter. Allianz Asset Management GmbH now owns 15,316 shares of the company’s stock worth $444,000 after acquiring an additional 4,662 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Bumble by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 7,285,122 shares of the company’s stock worth $211,123,000 after acquiring an additional 68,604 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Bumble Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Bumble (NASDAQ:BMBL)

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