Grindr initiated with an Outperform at JMP Securities

JMP Securities initiated coverage of Grindr with an Outperform rating and $14 price target. Grindr is a leading dating app focused on the LGBTQ+ community, and its position should strengthen as it continues to convert its large network of highly engaged users to paying users, the analyst tells investors in a research note. The firm has high confidence that the company can continue to convert users to payers over time, gaining market share.