Citizens JMP reiterates Market Outperform rating on Grindr stock with $23 price target

Investing.com - Citizens JMP has reiterated its Market Outperform rating on Grindr (NYSE:GRND) with a price target of $23.00. For deeper insights into GRND’s valuation metrics and growth potential, InvestingPro offers comprehensive analysis through its Pro Research Reports.

The firm’s analysis focuses on the potential benefits of web-based checkout adoption for subscription sign-ups, which it views as a positive development for the company.

Citizens JMP analyst Andrew Boone specifically noted being "incrementally positive toward web-based checkout adoption when signing up to subscribe," identifying this as a potential driver of margin expansion.

The analyst drew parallels to Duolingo (NASDAQ:DUOL), which has been testing web-based checkout functionality and maintains a Market Outperform rating with a $500 price target from the firm.

Citizens JMP expects Grindr and Life360 (ASX:360) to "likely soon follow" in implementing similar web-based checkout systems, with Life360 also rated Market Outperform with a $95 price target.

In other recent news, Duolingo Inc. has garnered attention from multiple analyst firms with various ratings and price targets following its annual virtual DuoCon event. Evercore ISI maintained an Outperform rating with a $540 price target, noting key developments such as updates to the Videocall with Lily feature and the introduction of a new Chess subject. Similarly, Citizens JMP upheld a Market Outperform rating and a $500 price target, expressing optimism about Duolingo’s web-based checkout adoption as a potential driver for margin expansion. Morgan Stanley also reiterated an Overweight rating and a $500 price target, highlighting Duolingo’s ability to leverage its scale to bolster its competitive edge. Meanwhile, Raymond James maintained a Market Perform rating, acknowledging the company’s feature updates, including the integration of the Score system with LinkedIn and enhancements to the Video Call functionality. In separate news, Life360 received a reaffirmation of a Market Outperform rating from Citizens JMP, with a price target set at $95. These developments reflect the latest insights and evaluations from analysts regarding these companies.

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