Analyst John Blackledge from TD Cowen maintained a Buy rating on Grindr and keeping the price target at $26.00.
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John Blackledge has given his Buy rating due to a combination of factors, including Grindr’s strong revenue growth projections and strategic product developments. The company is expected to see a 26.6% year-over-year revenue increase in the third quarter, supported by new product offerings and improved payer conversion rates. This growth aligns with the consensus and suggests a robust financial outlook.
Additionally, Grindr’s management is focused on enhancing monetization strategies, particularly in advertising, which is projected to grow significantly. The company’s long-term growth potential is further underscored by the insiders’ confidence, as evidenced by recent share acquisitions and proposals to take the company private. These elements combined present a positive outlook for Grindr, justifying the Buy rating.
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 Netflix.