Bumble (NASDAQ:BMBL) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Bumble (NASDAQ:BMBL) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $13.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler reissued a neutral rating and set a $13.00 price target (down from $14.00) on shares of Bumble in a research note on Wednesday, February 28th. Royal Bank of Canada reissued an outperform rating and set a $16.00 price target on shares of Bumble in a research note on Wednesday, February 28th. Raymond James reissued a market perform rating on shares of Bumble in a research note on Thursday, April 4th. BTIG Research dropped their price target on shares of Bumble from $20.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Bumble from $20.00 to $17.00 and set an overweight rating for the company in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $16.91.

Bumble Price Performance

Shares of BMBL stock opened at $10.24 on Thursday. Bumble has a 1 year low of $9.94 and a 1 year high of $21.06. The firm’s 50 day moving average is $11.51 and its 200-day moving average is $13.22. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -341.33, a PEG ratio of 0.28 and a beta of 1.68. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44.

Bumble (NASDAQ:BMBL) last announced its earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. The company had revenue of $273.64 million for the quarter, compared to analyst estimates of $275.38 million. Sell-side analysts forecast that Bumble will post 0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.56% of the company’s stock.

Institutional Investors Weigh In On Bumble

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 180 Wealth Advisors LLC raised its holdings in shares of Bumble by 85.0% during the first quarter. 180 Wealth Advisors LLC now owns 42,126 shares of the company’s stock worth $478,000 after acquiring an additional 19,350 shares during the period. Moody National Bank Trust Division raised its holdings in shares of Bumble by 7.8% during the first quarter. Moody National Bank Trust Division now owns 67,894 shares of the company’s stock worth $771,000 after acquiring an additional 4,887 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bumble by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock worth $150,478,000 after acquiring an additional 495,671 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Bumble by 12.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after acquiring an additional 397,741 shares during the period. Finally, Virtu Financial LLC bought a new position in Bumble in the fourth quarter valued at $215,000. 94.85% of the stock is currently 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.