Top Wall St brokerages start Reddit coverage with doubts over user growth

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Go back to Top Wall St brokerages start Reddit coverage with doubts over user growth

BofA Securities Starts Reddit (RDDT) at Neutral

April 16, 2024 5:26 AM EDT

BofA Securities analyst Justin Post initiates coverage on Reddit (NYSE: RDDT) with a Neutral rating and a price target of $46.00.

The analyst comments "We are initiating Reddit with a Neutral rating and $46 Price Objective. We are constructive on the social media platforms big picture... More

Analysts initiate coverage of Reddit (RDDT)

April 15, 2024 8:26 AM EDT

Various 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 EDT

Citi 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