Bumble (NASDAQ:BMBL) Price Target Lowered to $6.00 at Morgan Stanley

Bumble (NASDAQ:BMBL) had its target price cut by Morgan Stanley from $8.00 to $6.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued reports about the stock. Evercore ISI lowered their price objective on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Citigroup lowered their price target on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus lowered their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered 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, Piper Sandler lowered 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. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.39.

Bumble Trading Up 3.5 %

Shares of BMBL opened at $4.99 on Wednesday. The firm has a market cap of $526.67 million, a price-to-earnings ratio of -1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. Bumble has a fifty-two week low of $4.58 and a fifty-two week high of $12.49. The firm has a 50 day moving average price of $7.08 and a 200-day moving average price of $7.28.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its position in shares of Bumble by 25.5% in the 4th quarter. Ameriprise Financial Inc. now owns 6,382,478 shares of the company’s stock worth $51,953,000 after buying an additional 1,298,630 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Bumble by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,965,283 shares of the company’s stock worth $32,279,000 after buying an additional 22,136 shares during the period. RPD Fund Management LLC purchased a new stake in shares of Bumble in the 4th quarter worth about $30,940,000. Geode Capital Management LLC grew its position in shares of Bumble by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock worth $14,872,000 after buying an additional 14,889 shares during the period. Finally, Northern Trust Corp grew its position in shares of Bumble by 3.5% in the 4th quarter. Northern Trust Corp now owns 950,014 shares of the company’s stock worth $7,733,000 after buying an additional 32,353 shares during the period. 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.