Goldman Sachs Reaffirms Their Hold Rating on Bumble (BMBL)

In a report released today, Eric Sheridan from Goldman Sachs maintained a Hold rating on Bumble, with a price target of $5.00.

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According to TipRanks, Sheridan is a 4-star analyst with an average return of 3.6% and a 48.18% success rate. Sheridan covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Reddit Inc Class A.

In addition to Goldman Sachs, Bumble also received a Hold from UBS’s Stephen Ju in a report issued today. However, on the same day, Bank of America Securities reiterated a Sell rating on Bumble (NASDAQ: BMBL).

Based on Bumble’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $224.17 million and a GAAP net loss of $499.41 million. In comparison, last year the company earned a revenue of $261.65 million and had a net profit of $4.18 million

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BMBL in relation to earlier this year.