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

Bumble (NASDAQ:BMBL) had its price objective cut by Evercore ISI from $8.00 to $7.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have an in-line rating on the stock.

A number of other equities analysts also recently issued reports on BMBL. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Piper Sandler cut their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday. Susquehanna lifted their price target on Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Stifel Nicolaus cut their price target on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Bumble currently has an average rating of “Hold” and a consensus price target of $8.05.

Bumble Price Performance

BMBL stock opened at $5.21 on Wednesday. The company has a market capitalization of $564.06 million, a P/E ratio of -1.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09. Bumble has a 52-week low of $4.80 and a 52-week high of $13.36. The business has a 50-day simple moving average of $7.86 and a two-hundred day simple moving average of $7.40.

Institutional Investors Weigh In On Bumble

A number of hedge funds have recently modified their holdings of BMBL. FNY Investment Advisers LLC bought a new stake in Bumble during the 4th quarter valued at $56,000. Tower Research Capital LLC TRC raised its holdings in 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 acquiring an additional 1,249 shares during the period. SG Americas Securities LLC bought a new stake in Bumble during the 3rd quarter valued at $71,000. Capital Management Associates Inc bought a new stake in Bumble during the 3rd quarter valued at $74,000. Finally, D.A. Davidson & CO. bought a new stake in Bumble during the 3rd quarter valued at $77,000. 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.