The Goldman Sachs Group Issues Positive Forecast for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price objective lifted by The Goldman Sachs Group from $9.00 to $10.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Wolfe Research assumed coverage on Bumble in a research report on Tuesday, July 16th. They set an “outperform” rating and a $14.00 price objective for the company. Wells Fargo & Company reduced their target price on Bumble from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. BTIG Research lowered Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Piper Sandler reiterated a “neutral” rating and issued a $8.00 target price (up previously from $7.00) on shares of Bumble in a report on Thursday. Finally, Stifel Nicolaus downgraded shares of Bumble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.00 to $6.50 in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.76.

Bumble Stock Performance

BMBL traded up $0.29 during trading on Thursday, reaching $8.07. 2,908,429 shares of the company were exchanged, compared to its average volume of 3,130,926. 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 stock has a market cap of $1.02 billion, a P/E ratio of 23.59 and a beta of 1.62. Bumble has a 52 week low of $4.80 and a 52 week high of $15.90. The firm has a 50 day moving average of $6.75 and a 200 day moving average of $8.63.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results 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. The company had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. On average, sell-side analysts forecast that Bumble will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares in the last quarter. Aigen Investment Management LP bought a new stake in Bumble in the 3rd quarter worth about $173,000. Entropy Technologies LP purchased a new position in Bumble in the 3rd quarter worth about $187,000. Versor Investments LP raised its holdings in shares of Bumble by 25.3% during the third 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 during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Bumble during the 3rd quarter valued at $181,000. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.