Citizens JMP analyst Andrew Boone lowered the firm’s price target on Grindr (GRND) to $23 from $27 and keeps an Outperform rating on the shares. The company’s Q2 revenue growth accelerated two points from Q1 but slightly missed projections, the analyst tells investors in a research note. The firm says its 2025 estimates are now back-loaded. Grindr is still innovating on creating the “gayborhood,” which can expand its user base, monetization, and broader opportunity, contends Citizens JMP.
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