Fintel reports that on September 29, 2023, Loop Capital upgraded their outlook for Bumble Inc – (NASDAQ:BMBL) from Hold to Buy.
Analyst Price Forecast Suggests 66.99% Upside
As of August 31, 2023, the average one-year price target for Bumble Inc – is 24.18. The forecasts range from a low of 18.18 to a high of $36.75. The average price target represents an increase of 66.99% from its latest reported closing price of 14.48.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bumble Inc – is 1,070MM, an increase of 9.52%. The projected annual non-GAAP EPS is 0.20.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in Bumble Inc -. This is a decrease of 55 owner(s) or 9.84% in the last quarter. Average portfolio weight of all funds dedicated to BMBL is 0.26%, a decrease of 8.27%. Total shares owned by institutions decreased in the last three months by 5.09% to 141,421K shares. The put/call ratio of BMBL is 5.34, indicating a bearish outlook.
What are Other Shareholders Doing?
Blackstone Group holds 36,638K shares representing 26.84% ownership of the company. No change in the last quarter.
Wellington Management Group Llp holds 7,957K shares representing 5.83% ownership of the company. In it’s prior filing, the firm reported owning 9,197K shares, representing a decrease of 15.59%. The firm decreased its portfolio allocation in BMBL by 29.14% over the last quarter.
Accel Growth Fund V Associates L.L.C. holds 5,055K shares representing 3.70% ownership of the company. No change in the last quarter.
VEXPX – VANGUARD EXPLORER FUND Investor Shares holds 3,928K shares representing 2.88% ownership of the company. No change in the last quarter.
Marshall Wace, Llp holds 3,799K shares representing 2.78% ownership of the company. In it’s prior filing, the firm reported owning 2,839K shares, representing an increase of 25.29%. The firm increased its portfolio allocation in BMBL by 59.53% over the last quarter.
Bumble Background Information
(This description is provided by the company.)
Bumble Inc. is the parent company of Badoo and Bumble, two of the world’s highest-grossing dating apps with millions of users worldwide. The Bumble platform enables people to connect and build equitable and healthy relationships. Founded by CEO Whitney Wolfe Herd in 2014, the Bumble app is one of the first dating apps built with women at the center, and the Badoo app, which was founded in 2006, is one of the pioneers of web and mobile dating products. Bumble currently employs over 600 people in offices in Austin, Barcelona, London, and Moscow.
This article originally appeared on Fintel
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