Bumble (NASDAQ:BMBL) Price Target Cut to $6.00

Bumble (NASDAQ:BMBL) had its price target cut by Morgan Stanley from $12.00 to $6.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

BMBL has been the topic of a number of other research reports. Wolfe Research initiated coverage on Bumble in a report on Tuesday, July 16th. They set an outperform rating and a $14.00 target price on the stock. Wells Fargo & Company lowered shares of Bumble from an overweight rating to an equal weight rating and reduced their target price for the stock from $15.00 to $10.00 in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bumble from $15.00 to $13.00 and set a hold rating for the company in a research note on Thursday, May 9th. KeyCorp lowered their target price on Bumble from $16.00 to $11.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group upped their price target on shares of Bumble from $15.00 to $18.00 and gave the stock a buy rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $9.91.

Bumble Price Performance

Shares of Bumble stock opened at $5.98 on Thursday. The firm’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $10.94. Bumble has a 1-year low of $4.80 and a 1-year high of $17.31. The stock has a market capitalization of $754.67 million, a price-to-earnings ratio of 35.18 and a beta of 1.70. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The firm had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. During the same quarter last year, the company posted $0.05 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Bumble will post 0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 7,492 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $11.41, for a total transaction of $85,483.72. Following the sale, the director now directly owns 29,030 shares in the company, valued at $331,232.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BMBL. Vanguard Group Inc. increased its position in shares of Bumble by 6.0% during the first quarter. Vanguard Group Inc. now owns 10,822,610 shares of the company’s stock worth $122,837,000 after buying an additional 613,759 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Bumble by 39.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after buying an additional 1,013,374 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Bumble by 12.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after buying an additional 397,741 shares during the last quarter. Granahan Investment Management LLC grew its holdings in shares of Bumble by 9.0% in the fourth quarter. Granahan Investment Management LLC now owns 1,368,783 shares of the company’s stock valued at $20,176,000 after acquiring an additional 113,277 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Bumble by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,185,850 shares of the company’s stock valued at $17,479,000 after acquiring an additional 6,891 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

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.