Grindr initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Grindr (GRND) with a Buy rating and $20 price target Grindr is an online dating platform primarily focused on serving the LGBTQ+ community with 14.6M monthly active users globally, the analyst tells investors in a research note. The firm sees Grindr as a revenue compounder with high margins that are positively levered to a number of long-term secular growth themes and opportunities within online dating.