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

Bumble (NASDAQ:BMBL) had its price target dropped by equities research analysts at Morgan Stanley from $8.00 to $6.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 26.05% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Susquehanna cut their price target on shares of Bumble from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada cut their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus cut their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Finally, Piper Sandler cut their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Bumble currently has an average rating of “Hold” and a consensus target price of $7.39.

Bumble Stock Performance

Shares of BMBL opened at $4.76 on Wednesday. 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 twelve month low of $4.58 and a twelve month high of $12.49. The firm’s 50 day moving average price is $7.02 and its two-hundred day moving average price is $7.26. The firm has a market cap of $502.40 million, a P/E ratio of -0.97 and a beta of 1.77.

Institutional Trading of Bumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Bumble during the fourth quarter worth $149,000. Mackenzie Financial Corp acquired a new position in shares of Bumble in the fourth quarter valued at $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Bumble by 26.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company’s stock valued at $1,887,000 after purchasing an additional 48,207 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Bumble in the fourth quarter valued at $98,000. Finally, Two Sigma Investments LP acquired a new position in shares of Bumble in the fourth quarter valued at $476,000. 94.85% of the stock is owned by institutional investors.

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.