Evercore ISI Issues Pessimistic Forecast for Bumble (NASDAQ:BMBL) Stock Price

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

Several other research analysts also recently commented on the stock. Piper Sandler dropped their price objective on shares of Bumble from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group lifted their price target on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wolfe Research cut Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company dropped their price objective on Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus lowered their price objective on Bumble from $7.00 to $6.00 and set a “hold” rating for the company in a research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.18.

Bumble Stock Down 27.5 %

BMBL traded down $2.22 during trading on Wednesday, hitting $5.88. 10,770,331 shares of the company’s stock traded hands, compared to its average volume of 2,373,894. The stock has a market capitalization of $635.67 million, a price-to-earnings ratio of -1.20 and a beta of 1.70. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. Bumble has a 12-month low of $4.80 and a 12-month high of $13.56. The company’s 50 day simple moving average is $8.03 and its two-hundred day simple moving average is $7.44.

Institutional Trading of Bumble

A number of hedge funds have recently modified their holdings of BMBL. FNY Investment Advisers LLC bought a new position in Bumble in the fourth quarter worth $56,000. Tower Research Capital LLC TRC increased its stake in Bumble by 20.3% in the fourth 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 acquired a new position in Bumble in the third quarter worth about $71,000. Capital Management Associates Inc acquired a new stake in Bumble in the 3rd quarter valued at $74,000. Finally, D.A. Davidson & CO. bought a new stake in Bumble during the 3rd quarter worth approximately $77,000. Institutional investors own 94.85% of the company’s stock.

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.