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

Bumble (NASDAQ:BMBL) had its price objective decreased by equities researchers at Evercore ISI from $8.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target points to a potential upside of 28.32% from the company’s current price.

Other research analysts have also issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Bumble from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler decreased 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. Morgan Stanley upped their price objective on Bumble from $7.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their target price on Bumble from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Wolfe Research downgraded Bumble from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.05.

Bumble Stock Down 3.3 %

BMBL stock opened at $5.46 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $7.92 and a 200-day simple moving average of $7.42. The company has a market capitalization of $590.12 million, a P/E ratio of -1.12 and a beta of 1.70. Bumble has a twelve month low of $4.80 and a twelve month high of $13.36.

Institutional Trading of Bumble

A number of large investors have recently modified their holdings of BMBL. Mackenzie Financial Corp bought a new stake in Bumble in the 4th quarter valued at about $406,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Bumble by 26.2% in the fourth 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 bought a new stake in shares of Bumble during the fourth quarter valued at approximately $98,000. Two Sigma Investments LP bought a new stake in shares of Bumble during the fourth quarter valued at approximately $476,000. Finally, RPD Fund Management LLC acquired a new position in shares of Bumble during the fourth quarter worth approximately $30,940,000. 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.