Morgan Stanley Has Lowered Expectations for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its price target dropped by Morgan Stanley from $8.00 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 24.48% from the company’s previous close.

BMBL has been the subject of several other reports. Wells Fargo & Company dropped their target price on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada cut their price objective on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus decreased their target price on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Piper Sandler cut their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.39.

Bumble Trading Down 2.0 %

Shares of Bumble stock opened at $4.82 on Wednesday. Bumble has a 1-year low of $4.58 and a 1-year high of $12.49. 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 $508.73 million, a P/E ratio of -0.99 and a beta of 1.77. The stock’s 50 day simple moving average is $7.15 and its 200-day simple moving average is $7.29.

Institutional Investors Weigh In On Bumble

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after buying an additional 1,249 shares during the period. Franklin Resources Inc. increased its stake in shares of Bumble by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock worth $521,000 after buying an additional 1,666 shares during the period. Rhumbline Advisers raised its holdings in Bumble by 1.4% in the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after acquiring an additional 2,157 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Aigen Investment Management LP lifted its stake in Bumble by 14.2% in the fourth quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock worth $253,000 after acquiring an additional 3,853 shares during the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

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.