Loop Capital raised the firm’s price target on Reddit (RDDT) to $180 from $120 and keeps a Buy rating on the shares. The stock has quadrupled since its March IPO as both the June and September quarter showed significant user, revenue, and profit upside surprises, and the Street is continuing to underestimate both user growth and the corresponding financial impact for the company, the analyst tells investors in a research note. Loop adds that while its 2025 and 2026 estimates assume a slowdown from the current growth rate, the firm is still modeling revenue growth of over 30%.
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Read More on RDDT:
- Nintendo subpoenas Google, others amid antipiracy efforts, GameFile says
- Reddit ramps up efforts to attract international users, CNBC reports
- Reddit (NYSE:RDDT) Targets Global Markets to Drive User Growth
- StockTok: Meta to face FTC monopoly trial in April
- Reddit price target raised to $175 from $120 at Jefferies
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
