DexCom earnings beat by $0.03, revenue topped estimates
Grindr Inc. (NYSE:GRND) stock has reached a new 52-week high, trading at $21.17, as investors rally behind the company’s impressive performance. According to InvestingPro data, the company’s market capitalization now stands at $4.35 billion, with technical indicators suggesting the stock is in overbought territory. Over the past year, the stock has witnessed a remarkable surge, with a 1-year change showing an increase of 110.62%. This significant growth reflects strong investor confidence and the company’s potential for continued expansion in its market, supported by impressive revenue growth of 32.71%. While currently not profitable, analysts tracked by InvestingPro expect the company to turn profitable this year, with 11 more exclusive insights available to subscribers. The achievement of this 52-week high represents a key milestone for Grindr, signaling a period of robust financial health and heightened shareholder value. Based on current trading levels, InvestingPro’s Fair Value analysis suggests the stock is trading above its Fair Value. Discover detailed valuation metrics and comprehensive analysis in the Pro Research Report, available exclusively on InvestingPro.
In other recent news, Grindr reported a 35% year-over-year revenue growth for the fourth quarter of 2024, reaching $98 million and surpassing expectations by $7 million. The company’s full-year revenue for 2024 was $345 million, marking a 33% increase from the previous year. Goldman Sachs maintained its Buy rating with a $20 price target, highlighting Grindr’s industry-leading margins and future growth potential. Raymond (NSE:RYMD) James increased its price target to $22, citing the company’s operational excellence and successful product delivery. Citizens JMP reaffirmed a $24 price target, emphasizing Grindr’s strategic initiatives for 2025. Additionally, Grindr announced amendments to CEO George Arison’s compensation terms, aligning executive pay with company performance. Grindr also launched a $500 million share repurchase program, signaling confidence in its long-term growth strategy. These developments underscore Grindr’s commitment to enhancing user engagement and expanding its market presence.
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