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

Bumble (NASDAQ:BMBL) had its price objective raised by equities research analysts at The Goldman Sachs Group from $9.00 to $10.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 26.90% from the company’s current price.

Several other analysts have also commented on the stock. TD Cowen lowered shares of Bumble from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $7.50 in a research report on Friday, August 16th. Susquehanna lowered Bumble from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $6.00 in a research note on Friday, August 9th. Hsbc Global Res downgraded Bumble from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Bank of America cut shares of Bumble from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $12.00 to $5.50 in a research report on Thursday, August 8th. Finally, Stifel Nicolaus lowered shares of Bumble from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.00 to $6.50 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.62.

Bumble Price Performance

Bumble stock traded up $0.07 during midday trading on Thursday, reaching $7.88. The company’s stock had a trading volume of 2,149,167 shares, compared to its average volume of 3,120,774. The firm has a market capitalization of $997.14 million, a PE ratio of 23.26 and a beta of 1.62. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $15.90. The stock’s 50 day simple moving average is $6.70 and its 200 day simple moving average is $8.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.38 and a current ratio of 2.38.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The firm had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 earnings per share. On average, equities research analysts forecast that Bumble will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Bumble

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Bumble by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock valued at $122,837,000 after acquiring an additional 613,759 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Bumble during the second quarter worth $24,121,000. The Manufacturers Life Insurance Company raised its position in Bumble by 17.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock valued at $21,468,000 after purchasing an additional 297,057 shares during the last quarter. Boston Partners grew its stake in shares of Bumble by 2.0% in the first quarter. Boston Partners now owns 746,483 shares of the company’s stock worth $8,348,000 after purchasing an additional 14,309 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Bumble by 13.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 707,335 shares of the company’s stock valued at $7,434,000 after buying an additional 83,397 shares during the period. Institutional investors and hedge funds 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.