Evercore ISI Raises Bumble (NASDAQ:BMBL) Price Target to $18.00

Bumble (NASDAQ:BMBL) had its target price boosted by research analysts at Evercore ISI from $17.00 to $18.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 75.27% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. KeyCorp cut their price target on shares of Bumble from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday. BTIG Research lowered their price target on shares of Bumble from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. cut their price target on Bumble from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler reissued a “neutral” rating and issued a $13.00 price objective (down previously from $14.00) on shares of Bumble in a report on Wednesday, February 28th. Finally, Susquehanna lowered their price objective on Bumble from $17.00 to $14.00 and set a “positive” rating on the stock in a research report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.63.

Bumble Trading Down 0.3 %

NASDAQ:BMBL opened at $10.27 on Thursday. The company has a market capitalization of $1.33 billion, a P/E ratio of -342.33, a PEG ratio of 0.28 and a beta of 1.67. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. Bumble has a 12 month low of $9.83 and a 12 month high of $21.06. The firm has a fifty day simple moving average of $10.72 and a 200-day simple moving average of $12.86.

Bumble (NASDAQ:BMBL) last issued its earnings results on Tuesday, February 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.31). The firm had revenue of $273.64 million during the quarter, compared to analysts’ expectations of $275.38 million. Bumble had a negative return on equity of 0.17% and a negative net margin of 0.40%. On average, equities research analysts anticipate that Bumble will post 0.66 earnings per share for the current year.

Insider Buying and Selling at Bumble

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.84% of the company’s stock.

Hedge Funds Weigh In On Bumble

A number of hedge funds and other institutional investors have recently bought and sold shares of BMBL. Norges Bank acquired a new stake in shares of Bumble during the fourth quarter worth about $16,112,000. Dimensional Fund Advisors LP lifted its holdings in Bumble by 39.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,599,267 shares of the company’s stock worth $53,055,000 after buying an additional 1,013,374 shares in the last quarter. Boston Partners purchased a new position in Bumble in the 4th quarter valued at approximately $10,678,000. Vanguard Group Inc. grew its stake in shares of Bumble by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 10,208,851 shares of the company’s stock worth $150,478,000 after acquiring an additional 495,671 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its position in shares of Bumble by 800.0% during the third quarter. Hudson Bay Capital Management LP now owns 450,000 shares of the company’s stock worth $6,714,000 after acquiring an additional 400,000 shares during the period. 94.85% of the stock is currently owned by hedge funds and other 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.