Grindr Trades at 35% Discount to Peers Despite Analyst Upgrades

CEO George Arison says institutional investors apply a "Grindr discount" because it is a gay dating app, citing one model that knocked 25% off a fair-value estimate. The stock trades at roughly 11x 2027 EBITDA, a 35% discount to peers, even after Morgan Stanley upgraded it to "overweight" in July 2026 and Goldman Sachs and Raymond James raised price targets.