Bumble (NASDAQ:BMBL) Given New $7.00 Price Target at Evercore ISI

Bumble (NASDAQ:BMBL) had its price objective reduced by Evercore ISI from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. They currently have an in-line rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler lowered their price target on Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley lifted their price objective on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Wells Fargo & Company lowered their target price on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Citigroup reduced their price target on shares of Bumble from $8.00 to $6.80 and set a “neutral” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Bumble presently has an average rating of “Hold” and an average price target of $8.18.

Bumble Price Performance

Shares of BMBL opened at $5.64 on Wednesday. The stock has a market cap of $610.14 million, a P/E ratio of -1.15 and a beta of 1.70. Bumble has a 1 year low of $4.80 and a 1 year high of $13.56. The stock’s 50-day moving average price is $7.98 and its two-hundred day moving average price is $7.43. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75.

Institutional Trading of Bumble

A number of hedge funds and other institutional investors have recently modified their holdings of BMBL. FNY Investment Advisers LLC bought a new position in Bumble in the fourth quarter valued at approximately $56,000. Tower Research Capital LLC TRC boosted its holdings in shares of Bumble by 20.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,400 shares of the company’s stock valued at $60,000 after buying an additional 1,249 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Bumble by 56.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,100 shares of the company’s stock valued at $90,000 after buying an additional 4,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in Bumble during the third quarter worth $71,000. Finally, Capital Management Associates Inc bought a new stake in Bumble during the third quarter worth $74,000. Institutional investors and hedge funds 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.