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

Bumble (NASDAQ:BMBL) had its price target lowered by investment analysts at Morgan Stanley from $8.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 24.48% from the stock’s previous close.

Other analysts have also recently issued research 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 report on Wednesday, February 19th. Citigroup decreased their price objective on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price target on Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Wolfe Research downgraded shares of Bumble from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. decreased their target price 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. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.39.

Bumble Trading Down 2.0 %

BMBL opened at $4.82 on Wednesday. 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 $4.58 and a one year high of $12.49. The company has a market cap of $508.73 million, a P/E ratio of -0.99 and a beta of 1.77. The business’s 50-day simple moving average is $7.15 and its 200-day simple moving average is $7.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in shares of Bumble during the fourth quarter valued at $56,000. Tower Research Capital LLC TRC boosted its stake in Bumble by 20.3% during the 4th 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 during the period. D.A. Davidson & CO. acquired a new position in Bumble during the 3rd quarter valued at about $77,000. Quantinno Capital Management LP bought a new position in Bumble in the 3rd quarter worth about $90,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Bumble by 56.3% in 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 during the period. 94.85% of the stock is currently owned by 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.