Bumble (NASDAQ:BMBL) Rating Lowered to Sector Weight at KeyCorp

Bumble (NASDAQ:BMBL) was downgraded by KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Friday, MarketBeat.com reports. KeyCorp also issued estimates for Bumble’s Q1 2025 earnings at $0.10 EPS.

A number of other equities research analysts have also commented on BMBL. Bank of America lowered shares of Bumble from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $12.00 to $5.50 in a research note on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on Bumble from $18.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. downgraded Bumble from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $17.00 to $7.00 in a research note on Thursday, August 8th. TD Cowen cut Bumble from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $7.50 in a research note on Friday, August 16th. Finally, Wells Fargo & Company lowered 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bumble presently has an average rating of “Hold” and an average target price of $9.03.

Bumble Stock Down 0.2 %

Shares of BMBL opened at $6.43 on Friday. 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 has a 52 week low of $4.80 and a 52 week high of $15.90. The stock has a market capitalization of $813.65 million, a price-to-earnings ratio of 37.82 and a beta of 1.66. The stock has a fifty day moving average of $7.00 and a 200-day moving average of $9.38.

Bumble (NASDAQ:BMBL) last posted its earnings results on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $268.60 million for the quarter, compared to analyst estimates of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. As a group, sell-side analysts anticipate that Bumble will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bumble

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in Bumble during the 2nd quarter valued at $24,121,000. Norges Bank purchased a new stake in shares of Bumble during the 4th quarter valued at $16,112,000. Vanguard Group Inc. raised its stake in shares of Bumble by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after purchasing an additional 613,759 shares during the period. Archon Capital Management LLC bought a new position in Bumble during the first quarter valued at about $6,370,000. Finally, Joho Capital LLC bought a new position in Bumble during the first quarter valued at about $6,242,000. 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.