Reddit (RDDT) PT Raised to $200 at Citi

Citi analyst Ronald Josey raised the price target on Reddit (NYSE: RDDT) to $200.00 (from $120.00) while maintaining a Buy rating.

The analyst comments "Following advertiser checks, continued engagement strength, and newer product launches (Reddit Answers), we reiterate our buy rating and raise our projections and TP to $200. We have been impressed with Reddit’s continued engagement gains as awareness grows and newer products launch which we believe create multiple catalysts for increased engagement. While on monetization, our conversations with advertisers suggest growing demand given Reddit’s user scale and we believe there are multiple avenues for incremental ad spend as newer ad products like Search, Video, Dynamic Product Ads, and its planned end-to-end campaign automation tools launch/gain scale. And although our EBITDA projections go up materially, Reddit is investing across sales, search, AI/ML, engineers. Reddit is one of our top SMID cap picks for 2025 and we reiterate our Buy rating."

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