Morgan Stanley Cuts Bumble (NASDAQ:BMBL) Price Target to $12.00

Bumble (NASDAQ:BMBL) had its price objective cut by Morgan Stanley from $13.00 to $12.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also recently issued reports on BMBL. The Goldman Sachs Group decreased their target price on Bumble from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bumble from $15.00 to $13.00 and set a hold rating for the company in a research report on Thursday, May 9th. KeyCorp reduced their price objective on Bumble from $18.00 to $16.00 and set an overweight rating for the company in a research report on Monday, May 6th. Raymond James reissued a market perform rating on shares of Bumble in a research report on Thursday, April 4th. Finally, Bank of America raised Bumble from a neutral rating to a buy rating and set a $14.00 price objective for the company in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $15.22.

Bumble Trading Up 2.0 %

Shares of NASDAQ BMBL opened at $9.39 on Wednesday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 55.24 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.96 and a current ratio of 1.96. The business has a 50 day simple moving average of $10.81 and a 200 day simple moving average of $11.76. Bumble has a 52 week low of $9.12 and a 52 week high of $21.06.

Bumble (NASDAQ:BMBL) last announced its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $267.80 million during the quarter, compared to analysts’ expectations of $265.41 million. Bumble had a return on equity of 0.92% and a net margin of 2.04%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, research analysts predict that Bumble will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bumble news, Director Ann Mather sold 7,492 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the completion of the transaction, the director now directly owns 29,030 shares in the company, valued at $331,232.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC raised its stake in Bumble by 98.6% during the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock worth $32,000 after acquiring an additional 1,092 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Bumble by 2.7% in the fourth quarter. Clearbridge Investments LLC now owns 51,649 shares of the company’s stock valued at $761,000 after buying an additional 1,369 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Bumble by 8.5% in the first quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock valued at $206,000 after buying an additional 1,430 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Bumble by 73.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock valued at $77,000 after buying an additional 2,210 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in shares of Bumble by 11.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,776 shares of the company’s stock valued at $330,000 after buying an additional 2,253 shares in 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.