Bumble (NASDAQ:BMBL) Coverage Initiated at Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of Bumble (NASDAQ:BMBL) in a research note issued on Thursday, Marketbeat 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 27.70% from the stock’s previous close.

Several other brokerages have also recently issued reports on BMBL. Raymond James restated a “market perform” rating on shares of Bumble in a research report on Thursday, April 4th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (down from $14.00) on shares of Bumble in a research report on Wednesday, February 28th. KeyCorp decreased their price objective on shares of Bumble from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. BTIG Research decreased their price objective on shares of Bumble from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price objective on shares of Bumble in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.91.

Bumble Trading Down 0.6 %

Shares of NASDAQ BMBL opened at $10.18 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.01. Bumble has a 52-week low of $9.94 and a 52-week high of $21.06. The firm has a 50 day moving average price of $11.45 and a two-hundred day moving average price of $13.19. The stock has a market cap of $1.32 billion, a P/E ratio of -339.33, a price-to-earnings-growth ratio of 0.28 and a beta of 1.68.

Bumble (NASDAQ:BMBL) last announced its quarterly earnings results 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). 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 analyst estimates of $275.38 million. As a group, equities analysts forecast that Bumble will post 0.66 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the 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 can be accessed through this hyperlink. 7.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Headlands Technologies LLC lifted its stake in shares of Bumble by 98.6% in the fourth quarter. Headlands Technologies LLC now owns 2,200 shares of the company’s stock valued at $32,000 after buying an additional 1,092 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Bumble in the second quarter valued at $35,000. Public Employees Retirement System of Ohio lifted 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 valued at $35,000 after buying an additional 546 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new position in shares of Bumble in the first quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Bumble in the third quarter valued at $45,000. 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.