Bumble Inc. (NASDAQ: BMBL) stock jumped 0.41% on Tuesday to $24.43 against a previous-day closing price of $24.33. With 1.43 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.89 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $24.83 whereas the lowest price it dropped to was $24.14. The 52-week range on BMBL shows that it touched its highest point at $39.33 and its lowest point at $15.41 during that stretch. It currently has a 1-year price target of $24.86.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BMBL was up-trending over the past week, with a rise of 3.17%, but this was up by 11.91% over a month. Three-month performance surged to 11.30% while six-month performance fell -27.59%. The stock lost -18.57% in the past year, while it has gained 16.06% so far this year. A look at the trailing 12-month EPS for BMBL yields 0.12 with Next year EPS estimates of 0.19. For the next quarter, that number is 0.01. This implies an EPS growth rate of 211.20% for this year and -24.70% for next year.
Float and Shares Shorts:
At present, 129.47 million BMBL shares are outstanding with a float of 128.74 million shares on hand for trading. On Oct 13, 2022, short shares totaled 8.29 million, which was 6.40% higher than short shares on Sep 14, 2022. In addition to Ms. Whitney Wolfe Herd as the firm’s Founder, CEO & Director, Mr. Tariq M. Shaukat serves as its Pres.
Through their ownership of 104.74% of BMBL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.17% of BMBL, in contrast to 39.01% held by mutual funds. Shares owned by individuals account for 26.65%. As the largest shareholder in BMBL with 8.38% of the stake, Fidelity Management & Research Co holds 10,866,010 shares worth 10,866,010. A second-largest stockholder of BMBL, JPMorgan Investment Management, I, holds 9,131,578 shares, controlling over 7.04% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in BMBL, holding 7,684,271 shares or 5.93% stake. With a 2.45% stake in BMBL, the Fidelity Contrafund is the largest stakeholder. A total of 3,172,492 shares are owned by the mutual fund manager. The JPMorgan Growth Advantage Fund, which owns about 2.25% of BMBL stock, is the second-largest Mutual Fund holder. It holds 2,917,841 shares valued at 61.42 million. Vanguard Explorer Fund holds 2.22% of the stake in BMBL, owning 2,878,156 shares worth 60.59 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BMBL since 21 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 9 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BMBL analysts setting a high price target of $33.00 and a low target of $18.00, the average target price over the next 12 months is $25.44. Based on these targets, BMBL could surge 35.08% to reach the target high and fall by -26.32% to reach the target low. Reaching the average price target will result in a growth of 4.13% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BMBL will report FY 2022 earnings on 03/06/2024. Analysts have provided yearly estimates in a range of $0.34 being high and $0.12 being low. For BMBL, this leads to a yearly average estimate of $0.24. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Bumble Inc. surprised analysts by $0.13 when it reported $0.14 EPS against a consensus estimate of $0.01. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is $0.06 and the low estimate is -$0.07. The average estimate for the next quarter is thus $0.00.
Summary of Insider Activity:
Insiders traded BMBL stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 196,204 while 0 shares were sold.