Bumble (NASDAQ:BMBL) Shares Gap Up to $32.69

Shares of Bumble Inc. (NASDAQ:BMBL) gapped up before the market opened on Thursday . The stock had previously closed at $32.69, but opened at $33.70. Bumble shares last traded at $34.00, with a volume of 11,098 shares traded.

Several research analysts have recently weighed in on BMBL shares. BMO Capital Markets reduced their price objective on Bumble from $55.00 to $48.00 and set a “market perform” rating for the company in a research report on Thursday, November 11th. Susquehanna reduced their price objective on Bumble from $70.00 to $58.00 and set a “positive” rating for the company in a research report on Thursday, November 11th. The Goldman Sachs Group raised Bumble from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $57.00 to $54.00 in a research report on Thursday. Jefferies Financial Group reduced their price objective on Bumble from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 11th. Finally, Royal Bank of Canada reduced their price objective on Bumble from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, November 11th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $57.94.

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $35.41 and a 200-day simple moving average of $46.38. The stock has a market cap of $4.30 billion and a P/E ratio of 21.31.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $200.51 million during the quarter, compared to the consensus estimate of $197.53 million. Bumble had a net margin of 41.61% and a negative return on equity of 2.58%. On average, equities analysts anticipate that Bumble Inc. will post 0.04 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in BMBL. Advisor Group Holdings Inc. raised its stake in Bumble by 82.9% in the second quarter. Advisor Group Holdings Inc. now owns 6,870 shares of the company’s stock valued at $395,000 after buying an additional 3,114 shares during the period. Rafferty Asset Management LLC bought a new position in shares of Bumble during the second quarter worth approximately $398,000. Citigroup Inc. increased its stake in shares of Bumble by 25.0% during the second quarter. Citigroup Inc. now owns 11,771 shares of the company’s stock worth $678,000 after purchasing an additional 2,356 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Bumble during the second quarter worth approximately $361,000. Finally, JustInvest LLC bought a new position in shares of Bumble during the second quarter worth approximately $258,000.

Bumble Company Profile (NASDAQ:BMBL)

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 credit-based dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis.

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