Bumble (NASDAQ:BMBL) Price Target Raised to $8.00 at Morgan Stanley

Bumble (NASDAQ:BMBL) had its price target upped by Morgan Stanley from $7.50 to $8.00 in a report issued on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently weighed in on BMBL. Stifel Nicolaus raised their price target on Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. KeyCorp lowered Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. Citigroup raised their price objective on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group raised their price objective on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.50.

Bumble Stock Down 1.1 %

Bumble stock opened at $7.48 on Monday. Bumble has a 1-year low of $4.80 and a 1-year high of $14.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market cap of $809.20 million, a PE ratio of -1.53 and a beta of 1.70. The stock’s fifty day moving average is $8.16 and its two-hundred day moving average is $7.67.

Institutional Investors Weigh In On Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Bumble by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock valued at $14,872,000 after acquiring an additional 14,889 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Bumble during the 2nd quarter valued at approximately $24,121,000. The Manufacturers Life Insurance Company raised its position in shares of Bumble by 17.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,042,599 shares of the company’s stock worth $21,468,000 after purchasing an additional 297,057 shares during the last quarter. Westbourne Investment Advisors Inc. raised its position in shares of Bumble by 17.1% during the 3rd quarter. Westbourne Investment Advisors Inc. now owns 410,811 shares of the company’s stock worth $2,621,000 after purchasing an additional 59,970 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Bumble by 470.7% during the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock worth $1,595,000 after purchasing an additional 206,215 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

Bumble Company Profile

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.