Evercore ISI Cuts Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL) had its price target reduced by equities researchers at Evercore ISI from $8.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential upside of 19.13% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Susquehanna raised their price target on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Stifel Nicolaus decreased their price target on shares of Bumble from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday. Morgan Stanley upped their price objective on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Wells Fargo & Company dropped their price target on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Piper Sandler reduced their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Bumble currently has an average rating of “Hold” and a consensus price target of $8.18.

Bumble Stock Performance

BMBL traded down $2.22 during trading hours on Wednesday, reaching $5.88. The company’s stock had a trading volume of 10,770,331 shares, compared to its average volume of 2,373,894. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. The company’s 50-day moving average is $8.03 and its 200-day moving average is $7.44. Bumble has a 52 week low of $4.80 and a 52 week high of $13.56. The firm has a market cap of $635.67 million, a PE ratio of -1.20 and a beta of 1.70.

Hedge Funds Weigh In On Bumble

A number of institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of Bumble during the 4th quarter valued at about $56,000. Tower Research Capital LLC TRC raised its position in shares of Bumble by 20.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after purchasing an additional 1,249 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Bumble in the third quarter worth about $71,000. Capital Management Associates Inc purchased a new stake in shares of Bumble during the 3rd quarter worth approximately $74,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Bumble in the 3rd quarter worth $77,000. 94.85% of the stock is currently 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.