Grindr price target lowered to $20 from $26 at Raymond James

Raymond James lowered the firm’s price target on Grindr (GRND) to $20 from $26 and keeps an Outperform rating on the shares. Grindr reported Q2 results that did not meet expectations for the company’s now-typical beat-and-raise cadence, though they were solid, the analyst tells investors in a research note. The firm believes that the over-focus on monthly active users is short-sighted given the significant opportunities still in front of the company on the monetization front.