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

Bumble (NASDAQ:BMBL) had its target price decreased by Evercore ISI from $8.00 to $7.00 in a research report report published on Wednesday morning, Marketbeat reports. Evercore ISI currently has an in-line rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler cut their price objective on Bumble from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday. Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Citigroup cut their price objective on Bumble from $8.00 to $6.80 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price objective on Bumble from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Susquehanna raised their target price on Bumble from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.05.

Bumble Trading Down 4.7 %

Shares of BMBL stock opened at $5.21 on Wednesday. The stock’s fifty day moving average price is $7.86 and its two-hundred day moving average price is $7.40. The company has a market cap of $564.06 million, a PE ratio of -1.07 and a beta of 1.70. Bumble has a fifty-two week low of $4.80 and a fifty-two week high of $13.36. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.09 and a current ratio of 2.09.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new stake in Bumble in the 3rd quarter valued at about $911,000. Victory Capital Management Inc. increased its position in Bumble by 470.7% in the 3rd quarter. Victory Capital Management Inc. now owns 250,025 shares of the company’s stock valued at $1,595,000 after buying an additional 206,215 shares in the last quarter. JPMorgan Chase & Co. increased its position in Bumble by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 131,854 shares of the company’s stock valued at $841,000 after buying an additional 2,760 shares in the last quarter. Franklin Resources Inc. increased its position in Bumble by 11.3% in the 3rd quarter. Franklin Resources Inc. now owns 62,328 shares of the company’s stock valued at $421,000 after buying an additional 6,325 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Bumble in the 4th quarter valued at about $214,000. 94.85% of the stock is 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.