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

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

Several other equities research analysts have also recently issued reports on BMBL. Susquehanna reduced their price objective on shares of Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research report on Thursday, February 29th. BTIG Research reduced their price objective 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. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (down previously from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. Raymond James restated a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. Finally, KeyCorp reduced their price target on shares of Bumble from $20.00 to $18.00 and set an “overweight” 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.91.

Bumble Price Performance

Shares of NASDAQ:BMBL opened at $10.10 on Thursday. The company has a market capitalization of $1.31 billion, a P/E ratio of -336.67, a P/E/G ratio of 0.28 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.01. Bumble has a 1-year low of $9.99 and a 1-year high of $21.06. The firm’s 50 day simple moving average is $11.57 and its two-hundred day simple moving average is $13.24.

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

Insider Activity

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.56% of the company’s stock.

Institutional Trading of Bumble

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Bumble by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock worth $150,478,000 after acquiring an additional 495,671 shares during the period. BlackRock Inc. lifted its stake in Bumble by 10.1% in the second quarter. BlackRock Inc. now owns 10,030,155 shares of the company’s stock worth $168,306,000 after acquiring an additional 923,644 shares during the period. Wellington Management Group LLP lifted its stake in Bumble by 4.4% in the third quarter. Wellington Management Group LLP now owns 8,303,961 shares of the company’s stock worth $123,895,000 after acquiring an additional 347,238 shares during the period. Dimensional Fund Advisors LP lifted its stake in Bumble by 39.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after acquiring an additional 1,013,374 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Bumble by 12.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,589,176 shares of the company’s stock worth $52,904,000 after acquiring an additional 397,741 shares during the period. 94.85% of the stock is owned by hedge funds and other 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.