JMP Securities Starts Grindr (GRND) at Market Outperform

JMP Securities analyst Nicholas Jones initiates coverage on Grindr (NYSE: GRND) with a Market Outperform rating and a price target of $14.00.

The analyst comments "Grindr Inc. is a leading dating app focused on the GBTQ+ community, and we expect its position to strengthen as it continues to convert its large network of highly engaged users to paying users. Given its large TAM, both domestically and internationally, combined with the attractive demographics of its user base, we have high confidence that GRND can continue to convert users to payers over time, gaining market share. Additionally, given its strong brand awareness, leading MAU share versus other GBTQ+ dating apps, and strong profits, we believe GRND is well positioned to continue investing in improving its user experience and enhancing monetization, while preserving its strong margin profile. We initiate coverage with a Market Outperform rating and price target of $14, based on an EV/2025E EBITDA multiple of ~21x."

For an analyst ratings summary and ratings history on Grindr click here. For more ratings news on Grindr click here.

Shares of Grindr closed at $10.23 yesterday.

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