Grindr, the Technology sector company, was revisited by a Wall Street analyst today. Analyst John Blackledge from TD Cowen maintained a Buy rating on the stock and has a $26.00 price target.
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John Blackledge has given his Buy rating due to a combination of factors including Grindr’s anticipated strong revenue growth and successful product innovations. The company is expected to see a 27% year-over-year revenue increase in the second quarter of 2025, driven by new product offerings and an increase in user engagement and payer conversion rates.
Additionally, Grindr’s expansion of features such as the Right Now function and the testing of AI-powered tools like A-list and Wingman are seen as positive developments. The company’s CFO highlighted the broad use cases and strong brand awareness, which are expected to further boost monthly active users. With a projected revenue CAGR of 20% from 2024 to 2029, Blackledge maintains a price target of $26, reinforcing his Buy rating.