10 Most Undervalued Penny Stocks to Buy According to Hedge Funds

2. Bumble Inc. (NASDAQ:BMBL)

Share Price as of April 18: $4.36

Forward P/E ratio as of April 18: 7.2

Number of Hedge Fund Holders: 33

Bumble Inc. (NASDAQ:BMBL) is an online dating and social networking company that owns and operates websites and applications with subscription and in-app purchases of products. It operates apps like Bumble, which is a women-centric dating app. It also has other apps like Badoo, Bumble BFF, and Bumble Bizz Modes.

However, in April 2024, Bumble rolled out a new feature called ‘opening moves’, which allowed men to initiate conversations on the platform as well. Under this feature, female users can set a prompt for men to respond to start a conversation. In the full year 2024, the Bumble app’s paying user base grew by 290,000 during this year. In Q4, the App’s paying users increased by 5% to 2.8 million.

The company is heavily investing in Bumble App’s future through product innovation and ecosystem improvements. Key features being introduced include AI-driven matching, enhanced safety tools like ID Verification, and new engagement features such as Instant Match. The app’s relaunch last year also included badges that let users state their dating intentions by indicating whether, for instance, they are looking for a ‘life partner’ or a ‘casual relationship’.