TD Cowen initiated coverage of Grindr with a Buy rating and $12 price target. The analyst says Grindr has established itself as the leading LGBTQ+ social dating app through strong brand awareness, despite its relatively nascent technology and product offerings. The firm forecasts 13% annual revenue growth though 2029 with 40%-plus EBITDA margins. It believes broadening app functionality and product offerings will drive high single digit user growth and improving monetization.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GRND: