Bumble (NASDAQ:BMBL) Price Target Lowered to $6.00 at Morgan Stanley

Bumble (NASDAQ:BMBL) had its price target lowered by Morgan Stanley from $8.00 to $6.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. Stifel Nicolaus cut their price objective on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Citigroup dropped their price target 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. Royal Bank of Canada reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Piper Sandler reduced their price target on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Evercore ISI reduced their price target on shares of Bumble from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bumble presently has a consensus rating of “Hold” and a consensus price target of $7.39.

Bumble Stock Performance

Shares of BMBL stock opened at $4.99 on Wednesday. Bumble has a one year low of $4.58 and a one year high of $12.49. The company’s 50-day moving average is $7.08 and its 200 day moving average is $7.28. The company has a market capitalization of $526.67 million, a price-to-earnings ratio of -1.02 and a beta of 1.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

Hedge Funds Weigh In On Bumble

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in Bumble during the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC lifted its holdings in Bumble by 20.3% during 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. D.A. Davidson & CO. purchased a new position in Bumble during the third quarter valued at approximately $77,000. Quantinno Capital Management LP purchased a new position in Bumble during the third quarter valued at approximately $90,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Bumble by 56.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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.