Reddit to Announce First Quarter 2024 Results on Tuesday, May 7, 2024
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Analysts initiate coverage of Reddit (RDDT)
April 15, 2024 8:26 AM EDTVarious analysts initiated coverage of Reddit (NYSE: RDDT) in notes this week, with the overall rating currently standing as a Buy.
Citi initiated Reddit with a Buy rating and $53 price target in its note, highlighting the social media company's accelerating user engagement. They also noted that monetization is building with data licensing optionality.
JPMorgan started Reddit at Neutral with a $47 price target. The investment bank said the company has a "compelling... More
Citi Starts Reddit (RDDT) at Buy
April 15, 2024 7:53 AM EDTCiti analyst Ronald Josey initiates coverage on Reddit (NYSE: RDDT) with a Buy rating and a price target of $53.00.
The analyst comments "We initiate coverage of Reddit with a Buy/High Risk rating and $53 TP. With engagement trends improving (a trend that we... More
Needham Starts Reddit (RDDT) at Buy
April 15, 2024 6:33 AM EDTNeedham analyst Laura Martin initiates coverage on Reddit (NYSE: RDDT) with a Buy rating and a price target of $55.00.
The analyst comments "We initiate coverage of RDDT with a Buy rating and a $55/share PT. We believe that RDDT's library of 18 years of human... More
Deutsche Bank Starts Reddit (RDDT) at Buy, 'Good Karma for Investors'
April 15, 2024 5:39 AM EDTDeutsche Bank analyst Ben Black initiates coverage on Reddit (NYSE: RDDT) with a Buy rating and a price target of $50.00.
The analyst comments "We initiate on Reddit, Inc. with a Buy rating and a $50 target price. We think Reddit is on the early end of a number of positive inflections: Top-of-funnel growth is accelerating, the ad platform is in the early stages of being built to address lower funnel objectives, the... More
JPMorgan Starts Reddit (RDDT) at Neutral, 'Strong Execution Required & Valuation Healthy'
April 15, 2024 4:28 AM EDTJPMorgan analyst Doug Anmuth initiates coverage on Reddit (NYSE: RDDT) with a Neutral rating and a price target of $47.00.
The analyst comments "We are initiating coverage of Reddit with a Neutral rating & Dec 2024 price target of $47. We believe Reddits digital city comprising 100k+ subreddits represents a differentiated platform to share information, learn, & engage around specific topics/interests. Reddit is early in ads monetization (~$800M revenue in 2023), & the... More
