Bumble Jumps 47.8% as Take-Private Talks Reported
Bumble surged on reported take-private talks, while four other stocks moved after analyst changes or broader market pressure.
Key takeaways
- Bumble rose 47.8% after Reuters reported advanced take-private talks at roughly a $1 billion valuation.
- Manhattan Associates gained 4% after Morgan Stanley upgraded its rating to Overweight.
Bumble shares jumped 47.8% on Monday after Reuters reported advanced talks to take the dating app company private at roughly a $1 billion valuation. The potential buyer is technology investment firm Ithaca Holdings.
Manhattan Associates rose 4% after Morgan Stanley upgraded the supply chain software provider to Overweight from Equalweight, with a $250 price target. monday.com fell 4.7% after Barclays analyst Raimo Lenschow cut his rating to Equalweight from Overweight and set a $100 target.
Reddit slipped 3.6% as rising benchmark Treasury yields and profit-taking across communication services weighed on high-valuation growth stocks ahead of inflation data. Compass dropped 4.6% after Wells Fargo analyst Alec Brondolo lowered his price target to $10 while keeping an Equal Weight rating.
This article was produced with the help of AI technology. Source: Yahoo Finance
