10 Oversold Tech Stocks To Buy Right Now

4. Bumble Inc. (NASDAQ:BMBL)  

Number of Hedge Fund Investors: 26  

Forward P/E Ratio as of October 15: 9.13  

YTD Performance as of October 15: -54.14%  

Bumble Inc. (NASDAQ:BMBL) is a leading online dating and social networking company, famous for empowering women to make the first move.

Despite strong user engagement, Bumble Inc. (NASDAQ:BMBL) has seen its stock drop significantly in 2024 due to challenges in user growth and monetization. The company continues to expand its offerings and improve its platform to increase revenue and user retention.

Additionally, Bumble Inc.’s (NASDAQ:BMBL) efforts to improve its business, including its focus on user experience improvements, marketing strategy adjustments, and revenue model revisions, are likely to drive long-term growth. Bumble Inc.’s (NASDAQ:BMBL) strong free cash flow generation and potential for share buybacks also present a compelling investment opportunity. The company has a history of generating significant free cash flow, with a trailing free cash flow of $0.87 per share. This provides a strong foundation for share buybacks, which could be highly accretive at current levels. Analysts forecast that the company’s earnings will rise by 100% in the current year.