Analysts at BMO Capital Markets started coverage on shares of Bumble (NASDAQ:BMBL) in a research note issued on Monday, Benzinga reports. The brokerage set a “market perform” rating and a $65.00 price target on the stock. BMO Capital Markets’ target price points to a potential downside of 5.80% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. Raymond James initiated coverage on Bumble in a research note on Monday, March 8th. They set a “market perform” rating for the company. Morgan Stanley raised their target price on Bumble from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday. Susquehanna Bancshares started coverage on Bumble in a report on Thursday, March 4th. They set a “positive” rating and a $78.00 target price for the company. Citigroup started coverage on Bumble in a report on Monday, March 8th. They set a “buy” rating and a $75.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on Bumble in a report on Monday, March 8th. They set a “neutral” rating and a $60.00 target price for the company. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.80.
NASDAQ:BMBL opened at $69.00 on Monday. Bumble has a 1 year low of $57.53 and a 1 year high of $84.80.
Bumble (NASDAQ:BMBL) last announced its earnings results on Tuesday, March 9th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.12. The firm had revenue of $165.60 million for the quarter, compared to the consensus estimate of $163.31 million. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year.
In other Bumble news, Director Pamela Thomas-Graham acquired 6,535 shares of Bumble stock in a transaction that occurred on Tuesday, February 16th. The stock was purchased at an average cost of $76.23 per share, with a total value of $498,163.05. Following the purchase, the director now owns 1 shares in the company, valued at $76.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Gp Man Blackstone III sold 24,798,848 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $41.07, for a total value of $1,018,488,687.36. The disclosure for this sale can be found here.
Bumble Inc operates online dating and social networking platforms. It provides subscription and credit-based dating products servicing North America, Europe, and various other countries. Its platforms enable people to connect and build relationships across various areas of life, including love, friendships, careers, and beyond.
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