Bumble (NASDAQ:BMBL) Upgraded 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 note issued to investors on Friday, Benzinga reports. The firm currently has a $14.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 22.27% from the stock’s previous close.

Several other research firms also recently issued reports on BMBL. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bumble from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday. BTIG Research decreased their target price on shares of Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. KeyCorp dropped their price target on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, Morgan Stanley assumed coverage on Bumble in a report on Thursday, April 18th. They issued an “equal weight” rating and a $13.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.89.

Bumble Price Performance

Shares of NASDAQ BMBL opened at $11.45 on Friday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $10.71 and its 200-day moving average price is $12.85. The firm has a market capitalization of $1.48 billion, a P/E ratio of -381.67, a P/E/G ratio of 0.28 and a beta of 1.67. Bumble has a 1-year low of $9.83 and a 1-year high of $21.06.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping 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 business 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 business earned ($0.01) EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts anticipate that Bumble will post 0.66 earnings per share for the current fiscal year.

Insider Activity at Bumble

In other Bumble news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Bumble stock in a transaction dated 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 of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.84% of the stock is owned by company insiders.

Institutional Trading of Bumble

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC increased its holdings in Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,092 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Bumble in the third quarter worth about $45,000. FNY Investment Advisers LLC bought a new stake in shares of Bumble in the fourth quarter valued at approximately $68,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Bumble during the 3rd quarter valued at approximately $161,000. Finally, Neo Ivy Capital Management bought a new position in Bumble in the 4th quarter worth approximately $162,000. 94.85% of the stock is currently owned by institutional investors.

About Bumble

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.