Grindr price target raised to $14 from $12 at TD Cowen

TD Cowen earlier today raised the firm’s price target on Grindr to $14 from $12 and keeps a Buy rating on the shares. The company raised its 2024 sales guidance while laying out 2027 revenue and EBITDA targets 27% and 22% above TD’s pre-event estimates, the analyst tells investors in a research note. The firm says key medium-term growth drivers for Grindr include core product improvements, advertising growth, and its international focus, with upside potentially driven by alternate use case products. It raised 2025 through 2027 revenue and EBITDA estimates to reflect the better than expected outlook.