Grindr (NYSE:GRND - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.03, Zacks reports. The business had revenue of $75.35 million for the quarter, compared to the consensus estimate of $72.60 million. Grindr had a positive return on equity of 101.02% and a negative net margin of 21.48%. During the same quarter in the prior year, the business posted ($0.19) earnings per share. Grindr updated its FY 2024 guidance to EPS.
Grindr Price Performance
Shares of NYSE GRND traded down $0.45 during midday trading on Friday, reaching $10.14. 489,228 shares of the company were exchanged, compared to its average volume of 410,349. Grindr has a one year low of $4.49 and a one year high of $11.13. The stock has a market cap of $1.78 billion, a P/E ratio of -33.08 and a beta of 0.30. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 13.21. The stock's 50-day moving average price is $9.96 and its 200-day moving average price is $8.53.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on GRND. Raymond James assumed coverage on Grindr in a report on Thursday, April 4th. They set an "outperform" rating and a $14.00 target price on the stock. TD Cowen started coverage on Grindr in a research note on Thursday, March 28th. They set a "buy" rating and a $12.00 target price for the company. Finally, JMP Securities reissued a "market outperform" rating and set a $14.00 price target on shares of Grindr in a report on Monday, April 22nd.
Check Out Our Latest Report on Grindr
About Grindr
(
Get Free Report)
Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.
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