TD Cowen analyst John Blackledge maintained a Buy rating on Grindr today and set a price target of $26.00.
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John Blackledge has given his Buy rating due to a combination of factors including Grindr’s impressive financial performance and strategic growth plans. The company reported a significant 30% year-over-year revenue increase in the third quarter, surpassing expectations. This growth was driven by improved payer conversion rates, an increase in average revenue per paying user, and an expansion in the user base, particularly among younger demographics.
Moreover, Grindr’s management has reaffirmed their revenue guidance for 2025 while raising their EBITDA forecasts, indicating confidence in continued financial strength. The company’s focus on enhancing its subscription offerings, particularly the Unlimited tier, and plans for a Premium tier rollout are expected to sustain this momentum. Additionally, the company’s ability to manage expenses effectively, despite executive departures, further supports the positive outlook. These factors collectively contribute to Blackledge’s decision to maintain a Buy rating with a price target of $26.
According to TipRanks, Blackledge is a 5-star analyst with an average return of 13.3% and a 58.33% success rate. Blackledge covers the Communication Services sector, focusing on stocks such as Alphabet Class C, Meta Platforms, and Match Group.