Bumble (NASDAQ:BMBL) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Bumble (NASDAQ:BMBL) in a report released on Thursday, StockNewsAPI reports. The firm set an “equal weight” rating and a $13.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 28.71% from the stock’s previous close.

BMBL has been the topic of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Bumble in a research note on Wednesday, February 28th. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. JPMorgan Chase & Co. dropped their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler reissued a “neutral” rating and set a $13.00 price target (down from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. Finally, BTIG Research dropped their price target on shares of Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.91.

Bumble Trading Up 0.6 %

NASDAQ:BMBL opened at $10.10 on Thursday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -336.67, a PEG ratio of 0.28 and a beta of 1.68. The firm has a fifty day simple moving average of $11.57 and a two-hundred day simple moving average of $13.24. Bumble has a 12 month low of $9.99 and a 12 month high of $21.06.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. The business had revenue of $273.64 million during the quarter, compared to the consensus estimate of $275.38 million. Analysts expect that Bumble will post 0.66 EPS for the current fiscal year.

Insider Transactions at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Bumble stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.56% of the company’s stock.

Hedge Funds Weigh In On Bumble

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in shares of Bumble by 0.7% in the first quarter. California State Teachers Retirement System now owns 60,437 shares of the company’s stock worth $1,751,000 after purchasing an additional 401 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Bumble by 50.2% in the third quarter. Public Employees Retirement System of Ohio now owns 1,633 shares of the company’s stock worth $35,000 after purchasing an additional 546 shares in the last quarter. Verition Fund Management LLC grew its stake in Bumble by 8.2% during the second quarter. Verition Fund Management LLC now owns 8,282 shares of the company’s stock valued at $233,000 after acquiring an additional 631 shares in the last quarter. State of Wyoming increased its holdings in Bumble by 17.8% during the 2nd quarter. State of Wyoming now owns 4,459 shares of the company’s stock worth $75,000 after acquiring an additional 673 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Bumble by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 36,277 shares of the company’s stock worth $764,000 after acquiring an additional 876 shares during the period. Hedge funds and other 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.