The Dating app Grindr (GRDN) Focuses Specifically on the LGBTQ+ Community. Revenue Growth is now Expected to be Higher Than Previously Anticipated. The Stock Looks Very Bullish.
The stock of Grindr (GRDN) is still holding up best among the battered stocks of dating platform providers. While Match Group and Bumble are weakening, the stock has been quite solid since last fall. There have already been several up-gaps accompanied by high volumes. Such a pivotal point should also occur on Wednesday (June 26). After all, Grindr is the provider of a popular dating app that is primarily aimed at the LGBTQ+ community, especially gay, bisexual, transgender and queer men. Grindr offers both free and paid subscription services, with...
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After all, Grindr is the provider of a popular dating app that is primarily aimed at the LGBTQ+ community, especially gay, bisexual, transgender and queer men. Grindr offers both free and paid subscription services, with the latter including advanced features such as ad removal, additional filtering options and the ability to see more users nearby.
The reason for the strength on Wednesday is now the increase in revenue guidance for 2024 from revenue growth of at least 23% to at least 25%. The forecast for adjusted EBITDA of at least 40% remains unchanged. Grindr aims to achieve annual revenue growth of 20-25% by 2027.
Grindr (ISIN US39854F1012): Analysts had previously only expected revenue growth rates of between 10% and 18% until 2027. This would therefore be too conservative. The share is now looking very bullish again and is breaking out of the sideways consolidation.
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