The most recent trading session ended with Bumble Inc. (BMBL) standing at $7.20, reflecting a +0.98% shift from the previouse trading day’s closing. This change outpaced the S&P 500’s 0.16% gain on the day. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq increased by 0.78%.
The company’s shares have seen an increase of 11.76% over the last month, surpassing the Computer and Technology sector’s gain of 1.87% and the S&P 500’s gain of 1.67%.
The investment community will be closely monitoring the performance of Bumble Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 6, 2024. The company is expected to report EPS of $0.20, up 66.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $271.78 million, down 1.35% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.77 per share and revenue of $1.07 billion, indicating changes of +2666.67% and +1.59%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bumble Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2% higher within the past month. Bumble Inc. presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Bumble Inc. has a Forward P/E ratio of 9.32 right now. This signifies a discount in comparison to the average Forward P/E of 32.31 for its industry.
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
