Grindr (NYSE:GRND – Get Free Report)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They currently have a $14.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 43.00% from the stock’s previous close.
A number of other analysts also recently commented on GRND. Raymond James initiated coverage on Grindr in a research report on Thursday, April 4th. They set an “outperform” rating and a $14.00 price target for the company. TD Cowen began coverage on Grindr in a research report on Thursday, March 28th. They set a “buy” rating and a $12.00 target price for the company.
Get Our Latest Research Report on Grindr
Grindr Stock Performance
Grindr (NYSE:GRND – Get Free Report) last posted its quarterly earnings data on Monday, March 11th. The company reported $0.04 EPS for the quarter. Grindr had a negative net margin of 21.48% and a positive return on equity of 101.02%. The firm had revenue of $72.09 million during the quarter. Equities research analysts forecast that Grindr will post 0.18 EPS for the current fiscal year.
Institutional Investors Weigh In On Grindr
Several large investors have recently modified their holdings of GRND. New York State Common Retirement Fund lifted its stake in Grindr by 11.7% in the fourth quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock valued at $170,000 after purchasing an additional 2,030 shares during the last quarter. Jump Financial LLC purchased a new stake in Grindr in the fourth quarter worth $617,000. Alta Fox Capital Management LLC bought a new stake in shares of Grindr in the third quarter valued at $1,162,000. Finally, Park West Asset Management LLC purchased a new position in shares of Grindr during the 4th quarter valued at $1,652,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.
About Grindr
Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.
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