Fintel reports that on July 16, 2024, Wolfe Research initiated coverage of Bumble (NasdaqGS:BMBL) with a Outperform recommendation.
Analyst Price Forecast Suggests 60.07% Upside
As of July 4, 2024, the average one-year price target for Bumble is $14.93/share. The forecasts range from a low of $12.12 to a high of $23.10. The average price target represents an increase of 60.07% from its latest reported closing price of $9.33 / share.
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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 456 funds or institutions reporting positions in Bumble. This is an decrease of 28 owner(s) or 5.79% in the last quarter. Average portfolio weight of all funds dedicated to BMBL is 0.24%, an increase of 3.44%. Total shares owned by institutions decreased in the last three months by 6.05% to 132,313K shares. 
The put/call ratio of BMBL is 4.21, indicating a bearish outlook.
What are Other Shareholders Doing?
Blackstone Group holds 30,116K shares representing 23.86% ownership of the company. In its prior filing, the firm reported owning 32,625K shares , representing a decrease of 8.33%. The firm decreased its portfolio allocation in BMBL by 36.15% over the last quarter.
Citadel Advisors holds 5,299K shares representing 4.20% ownership of the company. In its prior filing, the firm reported owning 1,511K shares , representing an increase of 71.50%. The firm increased its portfolio allocation in BMBL by 127.83% 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.
Wellington Management Group Llp holds 4,926K shares representing 3.90% ownership of the company. In its prior filing, the firm reported owning 6,686K shares , representing a decrease of 35.73%. The firm decreased its portfolio allocation in BMBL by 92.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,016K shares representing 2.39% ownership of the company. In its prior filing, the firm reported owning 3,047K shares , representing a decrease of 1.02%. The firm decreased its portfolio allocation in BMBL by 30.51% 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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