Bumble (NASDAQ:BMBL) Given New $8.00 Price Target at Morgan Stanley

Bumble (NASDAQ:BMBL) had its price objective boosted by equities research analysts at Morgan Stanley from $7.50 to $8.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 7.82% from the company’s previous close.

BMBL has been the topic of several other research reports. Piper Sandler restated a “neutral” rating and issued a $8.00 price target (up previously from $7.00) on shares of Bumble in a research report on Thursday, November 7th. Wolfe Research lowered Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Susquehanna increased their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Stifel Nicolaus lifted their price target on Bumble from $6.50 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Citigroup raised their target price on shares of Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.50.

Bumble Price Performance

Bumble stock traded down $0.14 during midday 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. Bumble has a 12 month low of $4.80 and a 12 month high of $14.65. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $802.71 million, a PE ratio of -1.52 and a beta of 1.70. The stock’s 50-day moving average price is $8.15 and its 200-day moving average price is $7.69.

Institutional Trading of Bumble

A number of institutional investors have recently bought and sold shares of BMBL. JPMorgan Chase & Co. raised its stake in Bumble by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock worth $841,000 after acquiring an additional 2,760 shares in the last quarter. Principal Financial Group Inc. bought a new position in Bumble in the 3rd quarter valued at approximately $911,000. Franklin Resources Inc. boosted its position in Bumble by 11.3% in the third quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after buying an additional 6,325 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bumble by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,330,678 shares of the company’s stock worth $14,872,000 after buying an additional 14,889 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of Bumble during the third quarter worth about $90,000. Institutional investors own 94.85% of the company’s stock.

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.