Fintel reports that on May 10, 2024, B of A Securities upgraded their outlook for Bumble (NasdaqGS:BMBL) from Neutral to Buy.
Analyst Price Forecast Suggests 34.83% Upside
As of May 8, 2024, the average one-year price target for Bumble is 15.44. The forecasts range from a low of 12.12 to a high of $23.10. The average price target represents an increase of 34.83% from its latest reported closing price of 11.45.
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The projected annual revenue for Bumble is 1,275MM, an increase of 18.42%. The projected annual non-GAAP EPS is 0.45.
What is the Fund Sentiment?
There are 478 funds or institutions reporting positions in Bumble. This is an decrease of 15 owner(s) or 3.04% in the last quarter. Average portfolio weight of all funds dedicated to BMBL is 0.24%, an increase of 7.18%. Total shares owned by institutions decreased in the last three months by 3.08% to 141,477K shares. 
The put/call ratio of BMBL is 4.66, indicating a bearish outlook.
What are Other Shareholders Doing?
Blackstone Group holds 32,625K shares representing 25.87% ownership of the company. In its prior filing, the firm reported owning 36,638K shares , representing a decrease of 12.30%. The firm decreased its portfolio allocation in BMBL by 5.60% over the last quarter.
Wellington Management Group Llp holds 6,686K shares representing 5.30% ownership of the company. In its prior filing, the firm reported owning 8,304K shares , representing a decrease of 24.19%. The firm decreased its portfolio allocation in BMBL by 89.34% over the last quarter.
Accel Growth Fund V Associates L.L.C. holds 5,055K shares representing 4.01% ownership of the company. No change in the last quarter.
VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 3,987K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 3,928K shares , representing an increase of 1.48%. The firm decreased its portfolio allocation in BMBL by 11.15% over the last quarter.
Goldman Sachs Group holds 3,589K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 3,191K shares , representing an increase of 11.08%. The firm decreased its portfolio allocation in BMBL by 73.82% 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.
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