Grindr Gets First Buy Rating as Cowen Sees Growth Outpacing Tinder Owner

Bloomberg03-28

(Bloomberg) -- Grindr Inc.’s focus on the LGBTQ+ community promises faster revenue growth than the dating app industry titans, Match Group Inc. and Bumble Inc., according to the first Wall Street firm...

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UBS Banker’s FrustrationExposes Cracks in World of ClimateFinance. Tesla’s $25,000 Car Means Tossing Out the 100-Year-Old Assembly Line. Biden Gains Ground Against Trump in Six Key States, Poll Shows. “Grindr’s social dating app targets a global LGBTQ+ demographic which is growing faster than the overall population,” analyst John Blackledge wrote in a note kicking off his coverage Thursday. That expansion should drive Grindr’s annual revenue growth to outpace that of Tinder owner Match as well as Bumble over the next six years, he said.More so than peers, Grindr has the runway to continue improving app functionality while also launching new features as it expands internationally, Blackledge wrote.“There is room to ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GRND.WS":"GRINDR INC C/WTS (TO PUR COM)","MTCH":"Match Group, Inc.","BK4585":"ETF&股票定投概念","BK4127":"投资银行业与经纪业","COWN":"高宏集团","BK4077":"互动媒体与服务","BMBL":"Bumble Inc.","GRND":"GRINDR INC"},"translate_title":"Grindr获得第一买入评级，Cowen认为增长速度超过Tinder所有者","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COWN":1,"GRND.WS":1,"BMBL":0.9,"GRND":0.9,"MTCH":0.9},"content_text":"(Bloomberg) -- Grindr Inc.’s focus on the LGBTQ+ community promises faster revenue growth than the dating app industry titans, Match Group Inc. and Bumble Inc., according to the first Wall Street firm to rate the stock a buy.\nMost Read from Bloomberg\n\nLondon Insurers Face Baltimore Bridge Payouts Worth Billions\nDubai Is Losing Its Allure for Wealthy Russians\nUBS Banker’s Frustration Exposes Cracks in World of Climate Finance\nTesla’s $25,000 Car Means Tossing Out the 100-Year-Old Assembly Line\nBiden Gains Ground Against Trump in Six Key States, Poll Shows\n\nThe initiation — from TD Cowen — marks the stock’s first bullish rating since closing a merger with a blank-check company in November 2022, according to data compiled by Bloomberg. \n“Grindr’s social dating app targets a global LGBTQ+ demographic which is growing faster than the overall population,” analyst John Blackledge wrote in a note kicking off his coverage Thursday. That expansion should drive Grindr’s annual revenue growth to outpace that of Tinder owner Match as well as Bumble over the next six years, he said.\nThat’s welcome news for investors as Grindr has lagged its app rivals, falling more than 70% since its de-SPAC. Slowing growth, intensifying competition and struggles in retaining paid users have all plagued the sector.\nMore so than peers, Grindr has the runway to continue improving app functionality while also launching new features as it expands internationally, Blackledge wrote. \n“There is room to improve the user experience and expand product offerings, driving new user growth, further engagement, and increased payer conversion on a long term basis,” Blackledge wrote.\nGrindr shares rose 1.6% in New York to $9.92, with Blackledge’s price target of $12 per share implying more than 20% upside over the next 12 months. So far this year, the stock has risen roughly 12%.\nMost Read from Bloomberg Businessweek\n\nFTX’s Original Sin Is a Warning to All of Crypto\nHow Michael Rubin Ended Up Holding All the Cards\nIn a Passive World, These Stockpickers Are Thriving\nThe Cautionary Tale of Wirecutter and the Internet’s Favorite Wok\nAI Is Putting the Silicon Back in Silicon Valley\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2423148882"}