What's Going On With Grindr Stock?
Portfolio Pulse from Erica Kollmann
Grindr Inc. (NYSE:GRND) shares are trading higher after the company raised its full-year revenue guidance ahead of its first investor day. Grindr increased its 2024 revenue growth guidance from at least 23% to at least 25% and reiterated its adjusted EBITDA guidance of at least 40%. The company expects 20-25% annual revenue growth through 2027 with adjusted EBITDA margins of 39-42%. Shares are up 12.2% at $11.50, trading above the 50-day moving average of $9.74, with 13.42% of available shares being sold short.
June 26, 2024 | 2:35 pm
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POSITIVE IMPACT
Grindr Inc. raised its 2024 revenue growth guidance to at least 25% and reiterated its adjusted EBITDA guidance of at least 40%. The company expects 20-25% annual revenue growth through 2027 with adjusted EBITDA margins of 39-42%. Shares are up 12.2% at $11.50.
The increase in revenue guidance and strong future growth projections are positive indicators for Grindr's financial health. This news is likely to boost investor confidence, leading to a short-term increase in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100