Bumble (NASDAQ:BMBL) Now Covered by Morgan Stanley

Analysts at Morgan Stanley assumed coverage on shares of Bumble (NASDAQ:BMBL) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $13.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 27.70% from the company’s current price.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Bumble from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. KeyCorp lowered their target price on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of Bumble in a report on Wednesday, February 28th. Finally, BTIG Research lowered their target price on shares of Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.91.

Bumble Stock Performance

NASDAQ BMBL opened at $10.18 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 firm has a market cap of $1.32 billion, a price-to-earnings ratio of -339.33, a PEG ratio of 0.28 and a beta of 1.68. The company has a 50 day moving average of $11.45 and a 200-day moving average of $13.19. Bumble has a 1-year low of $9.94 and a 1-year high of $21.06.

Bumble (NASDAQ:BMBL) last issued its quarterly earnings results 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). The company had revenue of $273.64 million during the quarter, compared to analyst estimates of $275.38 million. Bumble had a negative net margin of 0.40% and a negative return on equity of 0.17%. On average, equities analysts forecast that Bumble will post 0.66 earnings per share 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 on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.56% of the company’s stock.

Institutional Investors Weigh In On Bumble

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Bumble by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,713,180 shares of the company’s stock valued at $144,921,000 after acquiring an additional 297,286 shares in the last quarter. Wellington Management Group LLP lifted its position in Bumble by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock valued at $123,895,000 after acquiring an additional 347,238 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Bumble by 16.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 683,553 shares of the company’s stock valued at $10,076,000 after acquiring an additional 97,948 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in Bumble by 800.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock valued at $6,714,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new stake in Bumble in the 3rd quarter valued at $753,000. 94.85% of the stock is owned by institutional investors.

About Bumble

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.