Bumble (NASDAQ:BMBL) Price Target Cut to $5.50 by Analysts at Morgan Stanley

Bumble (NASDAQ:BMBL) had its price target decreased by Morgan Stanley from $6.00 to $5.50 in a report issued on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms also recently commented on BMBL. JPMorgan Chase & Co. dropped their target price on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Citigroup reduced their target price on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group cut their price target on shares of Bumble from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price target on Bumble from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.09.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $4.36 on Thursday. The firm has a 50 day simple moving average of $4.98 and a 200 day simple moving average of $6.84. The company has a market cap of $460.18 million, a price-to-earnings ratio of -0.89 and a beta of 1.77. Bumble has a one year low of $3.55 and a one year high of $12.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.09 and a quick ratio of 2.09.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of Bumble by 20.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares in the last quarter. Franklin Resources Inc. grew its stake in Bumble by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 63,994 shares of the company’s stock valued at $521,000 after acquiring an additional 1,666 shares in the last quarter. Rhumbline Advisers grew its stake in Bumble by 1.4% during the fourth quarter. Rhumbline Advisers now owns 155,006 shares of the company’s stock valued at $1,262,000 after acquiring an additional 2,157 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Bumble by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after acquiring an additional 2,760 shares during the period. Finally, Aigen Investment Management LP lifted its stake in Bumble by 14.2% in the 4th quarter. Aigen Investment Management LP now owns 31,041 shares of the company’s stock worth $253,000 after purchasing an additional 3,853 shares in the last quarter. 94.85% of the stock is 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.