Bumble (NASDAQ:BMBL) Raised to “Buy” at Bank of America

Bumble (NASDAQ:BMBL) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a $14.00 target price on the stock. Bank of America‘s price objective points to a potential upside of 22.27% from the stock’s current price.

A number of other analysts have also commented on the stock. Evercore ISI lifted their price target on shares of Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday. Susquehanna dropped their price target on shares of Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bumble from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday. Morgan Stanley initiated coverage on Bumble in a research report on Thursday, April 18th. They set an “equal weight” rating and a $13.00 price objective on the stock. Finally, Piper Sandler restated a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Bumble currently has an average rating of “Moderate Buy” and an average price target of $15.89.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $11.45 on Friday. The company has a 50 day moving average of $10.71 and a 200 day moving average of $12.85. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. Bumble has a twelve month low of $9.83 and a twelve month high of $21.06. The firm has a market cap of $1.48 billion, a P/E ratio of -381.67, a PEG ratio of 0.28 and a beta of 1.67.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The firm had revenue of $267.80 million for the quarter, compared to the consensus estimate of $265.41 million. During the same period in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Bumble will post 0.66 EPS for the current fiscal year.

Insider Transactions at Bumble

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Bumble by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock valued at $150,478,000 after purchasing an additional 495,671 shares during the period. Wellington Management Group LLP lifted its position in Bumble by 4.4% in the third quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after buying an additional 347,238 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Bumble by 39.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after buying an additional 1,013,374 shares during the period. Goldman Sachs Group Inc. boosted its stake in Bumble by 12.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after buying an additional 397,741 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Bumble by 15.7% during the third quarter. The Manufacturers Life Insurance Company now owns 1,906,564 shares of the company’s stock valued at $28,446,000 after acquiring an additional 258,288 shares during the last quarter. 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.