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

Bumble (NASDAQ:BMBL) had its price objective upped by investment analysts at Morgan Stanley from $7.50 to $8.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 7.82% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Susquehanna increased their price objective on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 target price (up from $7.00) on shares of Bumble in a research report on Thursday, November 7th. KeyCorp downgraded shares of Bumble from an “overweight” rating to a “sector weight” rating in a research report on Friday, September 27th. Wolfe Research lowered shares of Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bumble has an average rating of “Hold” and a consensus price target of $8.50.

Bumble Trading Down 1.9 %

BMBL traded down $0.14 during trading on Monday, hitting $7.42. The company’s stock had a trading volume of 367,669 shares, compared to its average volume of 1,801,537. The firm has a market capitalization of $802.71 million, a P/E ratio of -1.52 and a beta of 1.70. Bumble has a twelve month low of $4.80 and a twelve month high of $14.65. The stock’s fifty day moving average price is $8.15 and its 200-day moving average price is $7.69. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BMBL. Victory Capital Management Inc. boosted its holdings in shares of Bumble by 20.6% in the second quarter. Victory Capital Management Inc. now owns 43,810 shares of the company’s stock worth $460,000 after acquiring an additional 7,475 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Bumble in the second quarter worth about $94,000. Vanguard Personalized Indexing Management LLC purchased a new position in Bumble during the second quarter valued at approximately $203,000. Hsbc Holdings PLC increased its holdings in Bumble by 41.8% during the 2nd quarter. Hsbc Holdings PLC now owns 60,678 shares of the company’s stock worth $631,000 after acquiring an additional 17,888 shares during the period. Finally, MQS Management LLC purchased a new stake in Bumble in the 2nd quarter worth approximately $201,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

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.