Citizens JMP Raised the Firm's PT on Grindr Inc (GRND), Kept an Outperform Rating

Grindr Inc. (NYSE:GRND) is one of the Best Tech Stocks to Buy Under $20. On June 30, Nicholas Jones CFA from Citizens JMP raised the firm’s price target on Grindr Inc. (NYSE:GRND) from $24 to $27, while keeping an Outperform rating on the stock.

The analyst noted that the company is in a strong position to monetize its large gay social network globally, highlighting the travel and local networks of the company as contributing factors to its worldwide reach. In addition, Jones also noted that Grindr Inc. (NYSE:GRND) has the room to customize its product locally to boost user engagement, thereby he sees the company continuing strong growth while keeping a healthy margin above 40%.

Grindr Inc. (NYSE:GRND) operates Grindr, a global social networking and dating platform primarily serving gay, bisexual, transgender, and queer adults.

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Disclosure: None. This article is originally published at Insider Monkey.