Bumble (NASDAQ:BMBL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Bumble (NASDAQ:BMBL) had its price objective boosted by stock analysts at Morgan Stanley from $7.50 to $8.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 7.10% from the company’s previous close.

BMBL has been the subject of a number of other reports. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Susquehanna upped their price objective on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. KeyCorp cut Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Piper Sandler restated a “neutral” rating and set a $8.00 price target (up from $7.00) on shares of Bumble in a research note on Thursday, November 7th. Finally, Citigroup increased their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.50.

Bumble Stock Down 0.1 %

BMBL opened at $7.47 on Monday. The stock has a market capitalization of $808.12 million, a price-to-earnings ratio of -1.53 and a beta of 1.70. The firm has a 50 day moving average price of $8.16 and a 200-day moving average price of $7.65. Bumble has a twelve month low of $4.80 and a twelve month high of $14.65. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Trading of Bumble

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of Bumble by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after purchasing an additional 2,760 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Bumble by 9.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock valued at $603,000 after buying an additional 4,800 shares in the last quarter. nVerses Capital LLC increased its stake in Bumble by 47.9% in the 3rd quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock worth $114,000 after acquiring an additional 5,800 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Bumble by 11.3% during the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock worth $421,000 after acquiring an additional 6,325 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Bumble during the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.