Bumble (NASDAQ:BMBL) Trading Up 6.8%

Bumble Inc. (NASDAQ:BMBLGet Rating)’s stock price traded up 6.8% during mid-day trading on Monday . The company traded as high as $33.55 and last traded at $33.50. 51,222 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 2,877,907 shares. The stock had previously closed at $31.38.

Analyst Ratings Changes

BMBL has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Bumble from $34.00 to $39.00 in a report on Tuesday, July 19th. Cowen upped their target price on shares of Bumble from $36.00 to $38.00 in a research note on Thursday, May 12th. Susquehanna Bancshares lifted their price target on shares of Bumble from $24.00 to $36.00 and gave the stock a “positive” rating in a research note on Thursday, August 11th. Royal Bank of Canada increased their price objective on shares of Bumble from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. Finally, Morgan Stanley decreased their price objective on shares of Bumble from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Thursday, August 11th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

Bumble Price Performance

The company’s 50-day moving average is $32.63 and its 200-day moving average is $28.42. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -821.79 and a beta of 1.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.49 and a quick ratio of 2.49.

Bumble (NASDAQ:BMBLGet Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $220.45 million during the quarter, compared to analyst estimates of $219.36 million. Bumble had a negative net margin of 0.59% and a negative return on equity of 0.33%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. On average, research analysts expect that Bumble Inc. will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Whittier Trust Co. acquired a new position in shares of Bumble during the 1st quarter valued at $29,000. Steward Partners Investment Advisory LLC raised its position in Bumble by 4,785.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,026 shares of the company’s stock valued at $35,000 after purchasing an additional 1,005 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Bumble during the second quarter worth about $35,000. Carolinas Wealth Consulting LLC grew its stake in shares of Bumble by 84.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,082 shares of the company’s stock valued at $37,000 after buying an additional 496 shares in the last quarter. Finally, Castle Wealth Management LLC purchased a new stake in shares of Bumble during the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 98.62% of the company’s stock.

Bumble Company Profile

(Get Rating)

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 two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app.

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