Bumble (NASDAQ:BMBL) Stock Rating Lowered by TD Cowen

TD Cowen cut shares of Bumble (NASDAQ:BMBL) from a buy rating to a hold rating in a research note released on Friday morning, MarketBeat.com reports. They currently have $7.50 target price on the stock, down from their prior target price of $22.00.

BMBL has been the topic of a number of other research reports. BTIG Research cut shares of Bumble from a buy rating to a neutral rating in a research note on Thursday, August 8th. Wells Fargo & Company dropped 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. Hsbc Global Res lowered Bumble from a strong-buy rating to a hold rating in a research note on Friday, August 9th. Bank of America lowered Bumble from a buy rating to an underperform rating and dropped their price objective for the stock from $12.00 to $5.50 in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reduced their target price on shares of Bumble from $16.00 to $8.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Bumble has an average rating of Hold and an average price target of $9.62.

Bumble Price Performance

Shares of BMBL stock opened at $6.44 on Friday. The company has a market capitalization of $812.72 million, a P/E ratio of 37.88 and a beta of 1.70. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. Bumble has a 12 month low of $4.80 and a 12 month high of $17.31. The stock has a 50 day moving average of $8.99 and a two-hundred day moving average of $10.60.

Bumble (NASDAQ:BMBL) last issued its earnings results on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping 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 return on equity of 0.92% and a net margin of 2.04%. Bumble’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $0.05 earnings per share. As a group, equities analysts expect that Bumble will post 0.9 EPS for the current year.

Insider Buying and Selling

In other Bumble news, Director Ann Mather sold 7,492 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the sale, the director now directly owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently modified their holdings of BMBL. Headlands Technologies LLC grew its holdings in Bumble by 98.6% during 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 period. Innealta Capital LLC acquired a new stake in shares of Bumble during the second quarter worth $64,000. EverSource Wealth Advisors LLC grew its stake in shares of Bumble by 73.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after purchasing an additional 2,210 shares during the period. Meeder Asset Management Inc. bought a new stake in Bumble in the second quarter valued at about $82,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Bumble in the second quarter valued at about $111,000. 94.85% of the stock is owned by 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.