Morgan Stanley Issues Positive Forecast for Bumble (NASDAQ:BMBL) Stock Price

Bumble (NASDAQ:BMBL) had its target price upped by Morgan Stanley from $7.50 to $8.00 in a research report report published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on BMBL. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Susquehanna upped their price objective on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Stifel Nicolaus upped their price objective on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and set a $8.00 price objective (up from $7.00) on shares of Bumble in a report on Thursday, November 7th. Finally, KeyCorp downgraded Bumble from an “overweight” rating to a “sector weight” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.50.

Bumble Stock Down 1.1 %

BMBL stock opened at $7.48 on Monday. The stock has a market capitalization of $809.20 million, a P/E ratio of -1.53 and a beta of 1.70. 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 one year low of $4.80 and a one year high of $14.65. The company has a 50 day moving average price of $8.16 and a two-hundred day moving average price of $7.67.

Hedge Funds Weigh In On Bumble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMBL. Victory Capital Management Inc. lifted its position in shares of Bumble by 20.6% during the second quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock worth $460,000 after purchasing an additional 7,475 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Bumble during the second quarter worth about $94,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Bumble during the second quarter worth about $203,000. Hsbc Holdings PLC lifted its position in shares of Bumble by 41.8% during the second quarter. Hsbc Holdings PLC now owns 60,678 shares of the company’s stock worth $631,000 after purchasing an additional 17,888 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Bumble during the second quarter worth about $201,000. 94.85% of the stock is owned by hedge funds and other 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.