Bumble (NASDAQ:BMBL) Price Target Raised to $6.00

Key Points

• Morgan Stanley has raised its price target for Bumble (NASDAQ:BMBL) from $5.50 to $6.00, maintaining an "equal weight" rating for the stock, which suggests a potential downside of approximately 6.41% from its current price.
• Analysts' ratings on Bumble vary, with two sell ratings, fourteen hold ratings, and three buy ratings, resulting in an average price target of $6.67.
• Bumble reported an EPS of $0.64 for its last quarter, exceeding analysts' expectations, although its revenue declined 7.6% year-over-year.

Bumble (NASDAQ:BMBL - Get Free Report) had its price objective boosted by research analysts at Morgan Stanley from $5.50 to $6.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential downside of 6.41% from the stock's previous close.

Several other equities analysts have also weighed in on BMBL. Wells Fargo & Company reissued a "positive" rating on shares of Bumble in a research note on Friday, June 27th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $5.00 price target on shares of Bumble in a research report on Tuesday, June 3rd. Bank of America boosted their price objective on shares of Bumble from $5.25 to $5.50 and gave the company an "underperform" rating in a report on Wednesday, July 2nd. UBS Group increased their target price on shares of Bumble from $6.00 to $7.50 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Citigroup boosted their price target on shares of Bumble from $4.80 to $7.00 and gave the company a "neutral" rating in a report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $6.67.

Bumble Trading Down 0.3%

Bumble stock traded down $0.02 during trading hours on Friday, reaching $6.41. 2,562,274 shares of the company's stock traded hands, compared to its average volume of 3,274,095. Bumble has a fifty-two week low of $3.55 and a fifty-two week high of $9.22. The firm's 50 day moving average is $6.45 and its 200-day moving average is $5.87. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $662.20 million, a price-to-earnings ratio of -1.32, a PEG ratio of 0.26 and a beta of 1.96.

Bumble (NASDAQ:BMBL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.37 by $0.27. Bumble had a negative net margin of 82.41% and a positive return on equity of 9.68%. The company had revenue of $248.23 million during the quarter, compared to analysts' expectations of $243.72 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts predict that Bumble will post 4.19 earnings per share for the current year.

Institutional Investors Weigh In On Bumble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position in shares of Bumble by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 63,994 shares of the company's stock worth $521,000 after buying an additional 1,666 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Bumble by 11.5% in the fourth quarter. Wells Fargo & Company MN now owns 117,935 shares of the company's stock worth $960,000 after acquiring an additional 12,132 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Bumble by 125.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 88,116 shares of the company's stock valued at $717,000 after purchasing an additional 49,050 shares during the last quarter. Cerity Partners LLC acquired a new position in Bumble during the 4th quarter worth approximately $95,000. Finally, Renaissance Technologies LLC lifted its stake in Bumble by 223.2% in the 4th quarter. Renaissance Technologies LLC now owns 391,100 shares of the company's stock valued at $3,184,000 after purchasing an additional 270,093 shares during the last quarter. 94.85% of the stock is currently 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.

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