Morgan Stanley Upgrades Grindr to Overweight with $18 Price Target
N.R. Finch
Morgan Stanley upgraded Grindr to overweight with an $18 price target — roughly 25% upside — betting the LGBTQ social platform can unlock premium subscriptions and telehealth as new revenue engines.
Why is Morgan Stanley upgrading now?
Analyst Nathan Feather laid out two monetization paths: ultra-premium subscriptions at $100–$500 per month, and a direct-to-consumer telehealth brand.
This means → Morgan Stanley sees more than user growth; it sees a much higher per-user spending ceiling.
The bank said the stock trades at "a discount with an increasingly clear catalyst path." In plain terms = the market hasn't priced in either new revenue line yet.
Is 18% compound growth realistic?
Morgan Stanley projects Grindr revenue to grow at an 18% CAGR from 2025 through 2028.
This reflects confidence that premium tiers and telehealth can add meaningful incremental revenue — but the forecast needs multiple quarters of earnings confirmation.
After this upgrade, Grindr now holds buy-equivalent ratings from every covering Wall Street analyst.
How much is already in the stock?
Shares rose 5.4% in pre-market after the call; year-to-date they are up about 6%, but still down 36% over the past 12 months.
This means → the stock remains far below its year-ago high, and Morgan Stanley's thesis is that the re-rating has barely begun.
CEO George Arison will also assume the role of board chair on June 23 — consolidating leadership may speed execution, but governance concentration is a risk worth watching.
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