Bumble (BMBL) Stock Surges 20% After Q1 Results: What's Going On?

Shares of Bumble Inc BMBL jumped 23.9% to $5.44 Thursday afternoon. The company on Wednesday reported mixed first-quarter results.

What To Know: Bumble posted earnings of 13 cents per share, slightly below the 14 cent consensus estimate and down from 19 cents a year ago. Revenue came in at $247.1 million, narrowly beating expectations but marking a 7.7% year-over-year decline.

Despite softening results, CEO Whitney Wolfe Herd, who returned in March, emphasized a renewed focus on growth, innovation and operational efficiency. The company maintained a steady paying user base of around 4 million, though average revenue per user fell to $20.24 from $21.84.

For the second-quarter, Bumble guided revenue between $235 million and $243 million, below the $243.7 million consensus. Goldman Sachs responded by reaffirming a Buy rating and raising its price target from $8 to $9.

In a move to strengthen leadership, Bumble also appointed Vivek Sagi as CTO, Julie Radford as Chief Communications Officer, and Deirdre Runnette as Chief Legal Officer.

The company also repurchased $28.7 million in shares in the first-quarter under its ongoing buyback program.

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How To Buy BMBL Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Bumble’s case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, BMBL has a 52-week high of $12.49 and a 52-week low of $3.55.