Grindr price target raised to $26 from $25 at TD Cowen

TD Cowen analyst John Blackledge raised the firm’s price target on Grindr (GRND) to $26 from $25 and keeps a Buy rating on the shares. The firm notes the company reported 25% year-over-year revenue growth in Q1, 1.5% below its estimates as lower-than-expected MAUs were offset in part by better payer conversion. TD Cowen also raised its near-term revenue and EBITDA forecasts given the better outlook.