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Reporter Name | Richardson Nathan |
Relationship | Director |
Type | Sell |
Amount | $12,030 |
SEC Filing | Form 4 |
Grindr Director Nathan Richardson sold 1,000 shares of Common Stock on September 16, 2024, at a price of $12.03 per share, totaling $12,030. Following this transaction, Richardson directly owns 33,642 shares of Grindr. The sale was conducted under a Rule 10b5-1 trading plan, adopted on May 15, 2024.
SEC Filing: Grindr Inc. [ GRND ] - Form 4 - Sep. 18, 2024
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is AAC Technologies Holdings Inc. (AACAY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
AAC Technologies Holdings Inc. is one of 618 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. AAC Technologies Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AACAY's full-year earnings has moved 2.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AACAY has returned about 28.4% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 18.4%. This shows that AAC Technologies Holdings Inc. is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Grindr Inc. (GRND), has outperformed the sector so far this year. The stock's year-to-date return is 32.4%.
In Grindr Inc.'s case, the consensus EPS estimate for the current year increased 31.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, AAC Technologies Holdings Inc. belongs to the Electronics - Miscellaneous Components industry, a group that includes 28 individual companies and currently sits at #71 in the Zacks Industry Rank. Stocks in this group have gained about 0.8% so far this year, so AACAY is performing better this group in terms of year-to-date returns.
In contrast, Grindr Inc. falls under the Internet - Software industry. Currently, this industry has 141 stocks and is ranked #91. Since the beginning of the year, the industry has moved +13%.
Investors with an interest in Computer and Technology stocks should continue to track AAC Technologies Holdings Inc. and Grindr Inc. These stocks will be looking to continue their solid performance.
Zacks Investment Research
Reporter Name | Chen Kye |
Relationship | Chief Accounting Officer |
Type | Sell |
Amount | $189,064 |
SEC Filing | Form 4 |
Chen Kye, the Chief Accounting Officer of Grindr, sold 16,187 shares of Common Stock on September 6, 2024, at a weighted average price of $11.68 per share, totaling $189,064. Following the transaction, Kye directly owns 138,604 shares of the company. The sales were conducted under a Rule 10b5-1 trading plan adopted on June 7, 2024.
SEC Filing: Grindr Inc. [ GRND ] - Form 4 - Sep. 10, 2024
Leading online dating platforms such as Match Group Inc owned Tinder and Hinge, Bumble Inc. , and Grindr Inc. are turning to AI-powered wingmen.
What Happened: Dating apps are either developing or testing AI tools and chatbot assistants that are designed to generate conversation starters, build user profiles, and provide feedback on user interactions, reported Financial Times.
Grindr’s chatbot assistant, the Grindr Wingman, aims to alleviate user burnout by generating conversation prompts based on users’ unique profiles and chat histories.
“AI is going to help people make better connections,” said AJ Balance, Grindr’s chief product officer. He compared the AI to a friend at a bar who assists you in asking someone out but in a virtual context.
Tinder has also announced plans to use AI to support users throughout their dating journey within the next year.
The company has already begun a limited rollout of an AI profile-building tool, which selects the best images from a user’s photos. Bumble is also reportedly developing a similar feature.
The introduction of AI ‘wingmen’ comes as online dating platforms struggle to attract new users.
A survey by OnePoll in March found that over 75% of dating app users had experienced burnout, with 40% attributing their exhaustion to repeated failures to find a good match, the report noted.
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Why It Matters: In its second quarter, Bumble reported a modest 3% increase in total revenue to $269 million.
Meanwhile, Match Group, the parent company of Tinder and Hinge, second-quarter earnings were in line with estimates, with revenues of $864.07 million, a 4% year-over-year increase.
Grindr reported revenues of $82.35 million for the quarter ending June 2024. This figure exceeded the Zacks Consensus Estimate by 6.39%.
Last year, in December it was revealed that Grindr has partnered with Ex-Human to power the in-house AI capabilities and improve user experience.
Image Via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by following this link.
Read Next:
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Have you been paying attention to shares of Intapp ? Shares have been on the move with the stock up 27.8% over the past month. The stock hit a new 52-week high of $45.81 in the previous session. Intapp has gained 20.5% since the start of the year compared to the 21.1% move for the Zacks Computer and Technology sector and the 14.2% return for the Zacks Internet - Software industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 13, 2024, Intapp reported EPS of $0.15 versus consensus estimate of $0.12.
For the current fiscal year, Intapp is expected to post earnings of $0.62 per share on $495.92 million in revenues. This represents a 37.78% change in EPS on a 15.19% change in revenues. For the next fiscal year, the company is expected to earn $0.87 per share on $568.77 million in revenues. This represents a year-over-year change of 40.55% and 14.69%, respectively.
Valuation Metrics
Intapp may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Intapp has a Value Score of F. The stock's Growth and Momentum Scores are A and A, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 73.9X current fiscal year EPS estimates, which is a premium to the peer industry average of 30X. On a trailing cash flow basis, the stock currently trades at 318.5X versus its peer group's average of 22.7X. Additionally, the stock has a PEG ratio of 2.44. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, Intapp currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Intapp fits the bill. Thus, it seems as though Intapp shares could have potential in the weeks and months to come.
How Does INTA Stack Up to the Competition?
Shares of INTA have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Grindr Inc. . GRND has a Zacks Rank of # 2 (Buy) and a Value Score of D, a Growth Score of B, and a Momentum Score of A.
Earnings were strong last quarter. Grindr Inc. beat our consensus estimate by 40%, and for the current fiscal year, GRND is expected to post earnings of -$0.03 per share on revenue of $335.2 million.
Shares of Grindr Inc. have gained 1.8% over the past month, and currently trade at a forward P/E of 47.36X and a P/CF of 60.65X.
The Internet - Software industry is in the top 39% of all the industries we have in our universe, so it looks like there are some nice tailwinds for INTA and GRND, even beyond their own solid fundamental situation.
Zacks Investment Research
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. AAC Technologies Holdings Inc. is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
AAC Technologies Holdings Inc. is a member of the Computer and Technology sector. This group includes 617 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. AAC Technologies Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AACAY's full-year earnings has moved 2.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AACAY has gained about 39.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 22.2% on average. This means that AAC Technologies Holdings Inc. is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Grindr Inc. . The stock has returned 40.6% year-to-date.
In Grindr Inc.'s case, the consensus EPS estimate for the current year increased 31.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, AAC Technologies Holdings Inc. is a member of the Electronics - Miscellaneous Components industry, which includes 28 individual companies and currently sits at #72 in the Zacks Industry Rank. This group has gained an average of 6.8% so far this year, so AACAY is performing better in this area.
In contrast, Grindr Inc. falls under the Internet - Software industry. Currently, this industry has 141 stocks and is ranked #98. Since the beginning of the year, the industry has moved +15.5%.
Investors with an interest in Computer and Technology stocks should continue to track AAC Technologies Holdings Inc. and Grindr Inc. These stocks will be looking to continue their solid performance.
Zacks Investment Research
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