Bumble (NASDAQ:BMBL) PT Lowered to $12.00

Bumble (NASDAQ:BMBL) had its price objective dropped by Morgan Stanley from $13.00 to $12.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 30.29% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Bank of America raised Bumble from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday, May 10th. Evercore ISI lifted their target price on Bumble from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Raymond James restated a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. The Goldman Sachs Group lowered their price objective on shares of Bumble from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Wells Fargo & Company downgraded shares of Bumble from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $15.00 to $10.00 in a research report on Monday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Bumble has an average rating of “Moderate Buy” and a consensus price target of $15.22.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $9.21 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.16 billion, a PE ratio of 54.18 and a beta of 1.70. The stock’s fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $11.80. Bumble has a 1-year low of $9.12 and a 1-year high of $21.06.

Bumble (NASDAQ:BMBL) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The company had revenue of $267.80 million for the quarter, compared to analyst estimates of $265.41 million. During the same period last year, the firm earned ($0.01) earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. As a group, analysts forecast that Bumble will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 7,492 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available at this link. 7.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bumble

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC raised its holdings in shares of Bumble by 98.6% in the 4th quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after acquiring an additional 1,092 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Bumble during the fourth quarter valued at approximately $68,000. EverSource Wealth Advisors LLC grew its stake in Bumble by 73.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,210 shares of the company’s stock worth $77,000 after buying an additional 2,210 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Bumble in the 4th quarter worth $162,000. Finally, FourWorld Capital Management LLC purchased a new stake in shares of Bumble during the 1st quarter valued at $165,000. 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.