Bumble (NASDAQ:BMBL) Given New $12.00 Price Target at Morgan Stanley

Bumble (NASDAQ:BMBL) had its price objective trimmed by Morgan Stanley from $13.00 to $12.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts have also issued reports on BMBL. Raymond James reissued a market perform rating on shares of Bumble in a research report on Thursday, April 4th. KeyCorp cut their price objective on shares of Bumble from $18.00 to $16.00 and set an overweight rating on the stock in a report on Monday, May 6th. Evercore ISI increased their price objective on shares of Bumble from $17.00 to $18.00 and gave the company an outperform rating in a report on Thursday, May 9th. Bank of America upgraded shares of Bumble from a neutral rating to a buy rating and set a $14.00 target price on the stock in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Bumble from $15.00 to $13.00 and set a hold rating on the stock in a report on Thursday, May 9th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $15.22.

Bumble Stock Performance

NASDAQ:BMBL opened at $9.30 on Wednesday. Bumble has a 12-month low of $9.12 and a 12-month high of $21.06. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.17 billion, a PE ratio of 54.71 and a beta of 1.70. The firm has a 50-day moving average price of $10.84 and a 200 day moving average price of $11.82.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm had revenue of $267.80 million during the quarter, compared to analyst estimates of $265.41 million. During the same quarter in the prior year, the business posted ($0.01) earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts anticipate that Bumble will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 7,492 shares of Bumble stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the transaction, the director now owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC boosted its holdings in shares of Bumble by 98.6% during the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after buying an additional 1,092 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Bumble during the 4th quarter worth about $68,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Bumble by 73.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after buying an additional 2,210 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Bumble during the 4th quarter worth about $162,000. Finally, FourWorld Capital Management LLC bought a new stake in shares of Bumble during the 1st quarter worth about $165,000. Institutional investors own 94.85% of the company’s stock.

About Bumble

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.