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

Bumble (NASDAQ:BMBL - Free Report) had its price objective lowered by Morgan Stanley from $8.00 to $6.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on BMBL. Susquehanna dropped their target price on Bumble from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Citigroup dropped their price objective on Bumble from $8.00 to $6.80 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on Bumble from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Evercore ISI lowered their price target on shares of Bumble from $8.00 to $7.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price objective on shares of Bumble from $7.00 to $6.00 and set a "hold" 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.39.

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Bumble Stock Performance

Shares of NASDAQ:BMBL traded down $0.23 during midday trading on Wednesday, hitting $4.76. The stock had a trading volume of 3,247,350 shares, compared to its average volume of 3,016,917. Bumble has a 1 year low of $4.58 and a 1 year high of $12.49. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average price of $7.02 and a two-hundred day moving average price of $7.26. The company has a market capitalization of $502.40 million, a PE ratio of -0.97 and a beta of 1.77.

Institutional Trading of Bumble

Several hedge funds have recently bought and sold shares of BMBL. FNY Investment Advisers LLC acquired a new stake in shares of Bumble in the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC increased its position in Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company's stock valued at $60,000 after acquiring an additional 1,249 shares during the period. D.A. Davidson & CO. bought a new stake in Bumble during the 3rd quarter valued at $77,000. Quantinno Capital Management LP acquired a new position in Bumble during the 3rd quarter worth $90,000. Finally, Canada Pension Plan Investment Board grew 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 worth $90,000 after purchasing an additional 4,000 shares in the last quarter. 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.