Bumble (NASDAQ:BMBL) Price Target Cut to $12.00

Bumble (NASDAQ:BMBL) had its price target lowered by investment analysts at Morgan Stanley from $13.00 to $12.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 30.29% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. The Goldman Sachs Group dropped their price objective on Bumble from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bumble from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Raymond James reaffirmed a “market perform” rating on shares of Bumble in a research note on Thursday, April 4th. KeyCorp lowered their price objective on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, Wells Fargo & Company downgraded shares of Bumble from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $15.00 to $10.00 in a research note on Monday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Bumble has an average rating of “Moderate Buy” and an average target price of $15.22.

Bumble Trading Down 1.0 %

Shares of BMBL opened at $9.21 on Wednesday. The company’s fifty day simple moving average is $10.82 and its 200-day simple moving average is $11.80. The company has a market cap of $1.16 billion, a P/E ratio of 54.18 and a beta of 1.70. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.46. Bumble has a twelve month low of $9.12 and a twelve month high of $21.06.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Bumble had a net margin of 2.04% and a return on equity of 0.92%. The company had revenue of $267.80 million for the quarter, compared to analyst estimates of $265.41 million. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts expect that Bumble will post 0.9 EPS for the current year.

Insider Buying and Selling at Bumble

In other news, Director Ann Mather sold 7,492 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $11.41, for a total value of $85,483.72. Following the completion of the transaction, the director now directly owns 29,030 shares of the company’s stock, valued at approximately $331,232.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Bumble

Institutional investors have recently added to or reduced their stakes in the stock. Boston Partners lifted its position in shares of Bumble by 2.0% during the first quarter. Boston Partners now owns 746,483 shares of the company’s stock valued at $8,348,000 after buying an additional 14,309 shares during the last quarter. FourWorld Capital Management LLC bought a new position in shares of Bumble during the 1st quarter worth approximately $165,000. Janus Henderson Group PLC lifted its position in Bumble by 300.0% during the first quarter. Janus Henderson Group PLC now owns 163,332 shares of the company’s stock valued at $1,854,000 after acquiring an additional 122,504 shares during the last quarter. Joho Capital LLC purchased a new stake in Bumble during the first quarter valued at approximately $6,242,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in Bumble in the first quarter valued at approximately $284,000. 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.