Bumble (NASDAQ:BMBL) Given New $18.00 Price Target at The Goldman Sachs Group

Bumble (NASDAQ:BMBL) had its price objective lifted by The Goldman Sachs Group from $15.00 to $18.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

BMBL has been the topic of a number of other reports. Wolfe Research initiated coverage on shares of Bumble in a research report on Tuesday, July 16th. They set an outperform rating and a $14.00 price objective on the stock. Evercore ISI boosted their target price on shares of Bumble from $17.00 to $18.00 and gave the company an outperform rating in a report on Thursday, May 9th. Morgan Stanley dropped their target price on shares of Bumble from $13.00 to $12.00 and set an equal weight rating on the stock in a report on Wednesday, July 10th. Citigroup dropped their target price on shares of Bumble from $14.00 to $12.00 and set a buy rating on the stock in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bumble from $15.00 to $13.00 and set a hold rating on the stock in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $15.14.

Bumble Stock Up 5.3 %

Shares of Bumble stock opened at $9.17 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $10.43 and its two-hundred day simple moving average is $11.43. The company has a market cap of $1.16 billion, a P/E ratio of 53.94 and a beta of 1.70. Bumble has a 12-month low of $8.65 and a 12-month high of $18.91.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings data 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. The business had revenue of $267.80 million for the quarter, compared to the consensus estimate of $265.41 million. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. Research analysts anticipate that Bumble will post 0.9 EPS for the current year.

Insider Buying and Selling

In related news, Director Ann Mather sold 7,492 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the transaction, the director now owns 29,030 shares in the company, valued at approximately $331,232.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bumble

Hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC raised its position 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 buying an additional 1,092 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Bumble by 73.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after buying an additional 2,210 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Bumble in the 4th quarter worth about $162,000. FourWorld Capital Management LLC purchased a new position in Bumble in the 1st quarter worth about $165,000. Finally, Virtu Financial LLC purchased a new position in Bumble in the 4th quarter worth about $215,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.