Bumble (NASDAQ:BMBL) Releases Earnings Results, Misses Estimates By $0.03 EPS

Bumble (NASDAQ:BMBL) issued its earnings results on Wednesday. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03), FiscalAI reports. Bumble had a positive return on equity of 35.88% and a negative net margin of 58.99%. The company had revenue of $207.09 million for the quarter, compared to the consensus estimate of $209.61 million.

Bumble Price Performance

Shares of BMBL stock traded up $0.01 during trading hours on Friday, reaching $5.99. The stock had a trading volume of 909,908 shares, compared to its average volume of 4,252,148. The stock’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $3.40. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.65. Bumble has a 12 month low of $2.44 and a 12 month high of $6.00. The firm has a market capitalization of $789.83 million, a PE ratio of -1.41 and a beta of 1.67.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Bumble stock in a transaction on Monday, September 28th. The shares were sold at an average price of $2.94, for a total value of $11,077,261.44. Following the transaction, the insider owned 16,120 shares in the company, valued at $47,392.80. This trade represents a 99.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder – Nq L.L.C. Btoa sold 3,767,776 shares of Bumble stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $2.94, for a total value of $11,077,261.44. Following the completion of the transaction, the insider directly owned 16,120 shares in the company, valued at $47,392.80. This trade represents a 99.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,127,851 shares of company stock valued at $83,447,304 in the last ninety days. Corporate insiders own 15.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Bumble from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 12th. Wells Fargo & Company decreased their price target on Bumble from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group lowered their price target on Bumble from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Susquehanna dropped their price objective on Bumble from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Finally, Wall Street Zen cut Bumble from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $4.04.

About Bumble

Bumble Inc is a technology company that operates online dating and social networking platforms. Its flagship Bumble app is designed to help people make romantic connections, while emphasizing user control and safety in the online dating experience.

The company also operates Badoo, a dating platform with an international user base, and offers services focused on friendship and social connections through Bumble-branded products. Its platforms provide features such as profile discovery, matching, messaging, and paid options intended to enhance users’ experiences.

Founded in 2014 by Whitney Wolfe Herd, Bumble has expanded from its initial focus on dating to a broader range of personal-connection services.