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

Bumble (NASDAQ:BMBL - Get Free Report) had its target price reduced by equities researchers at Evercore ISI from $8.00 to $7.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm presently has an "in-line" rating on the stock. Evercore ISI's price target suggests a potential upside of 34.25% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Citigroup lowered their price target on shares of Bumble from $8.00 to $6.80 and set a "neutral" rating on the stock in a report on Wednesday. Stifel Nicolaus lowered 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. Piper Sandler lowered their price target on shares of Bumble from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday. Morgan Stanley boosted their price target on shares of Bumble from $7.50 to $8.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Finally, Wolfe Research lowered shares of Bumble from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $8.05.

Bumble Stock Performance

NASDAQ:BMBL traded down $0.26 during trading hours on Wednesday, hitting $5.21. 6,777,262 shares of the company traded hands, compared to its average volume of 3,074,469. The stock has a market capitalization of $564.05 million, a price-to-earnings ratio of -1.07 and a beta of 1.70. Bumble has a twelve month low of $4.80 and a twelve month high of $13.36. The firm has a 50-day moving average of $7.92 and a 200 day moving average of $7.42. 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp acquired a new position in Bumble during the 4th quarter valued at about $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bumble by 26.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,876 shares of the company's stock valued at $1,887,000 after purchasing an additional 48,207 shares during the period. Wexford Capital LP acquired a new position in Bumble during the 4th quarter valued at about $98,000. Two Sigma Investments LP acquired a new position in Bumble during the 4th quarter valued at about $476,000. Finally, RPD Fund Management LLC acquired a new position in Bumble during the 4th quarter valued at about $30,940,000. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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.