Morgan Stanley Increases Bumble (NASDAQ:BMBL) Price Target to $8.00

Bumble (NASDAQ:BMBL) had its target price upped by Morgan Stanley from $7.50 to $8.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on BMBL. Citigroup lifted their price objective on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 target price (up previously from $7.00) on shares of Bumble in a report on Thursday, November 7th. Wolfe Research cut shares of Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Stifel Nicolaus raised their price objective on shares of Bumble from $6.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One equities 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 company has a consensus rating of “Hold” and an average target price of $8.50.

Bumble Trading Up 4.8 %

Shares of BMBL stock opened at $7.83 on Monday. The company has a market capitalization of $847.07 million, a P/E ratio of -1.60 and a beta of 1.70. 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 business’s 50 day moving average is $8.16 and its two-hundred day moving average is $7.65. Bumble has a twelve month low of $4.80 and a twelve month high of $14.65.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMBL. FNY Investment Advisers LLC acquired a new stake in Bumble in the 4th quarter valued at about $56,000. Headlands Technologies LLC purchased a new stake in shares of Bumble in the second quarter valued at about $94,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bumble in the second quarter valued at approximately $111,000. SG Americas Securities LLC purchased a new position in shares of Bumble during the 3rd quarter worth approximately $71,000. Finally, Capital Management Associates Inc acquired a new position in shares of Bumble during the 3rd quarter worth approximately $74,000. 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.