RBC Capital on Reddit (RDDT): 'Google product change a possible bullish signal'

RBC Capital analyst Brad Erickson reiterated a Sector Perform rating and $250.00 price target on Reddit (NYSE: RDDT).

The analyst comments "RDDT's Google content licensing renewal isn't until early '27, but the probability of a good outcome could be rising. We look more closely at Google's AIO product changes which could improve RDDT's traffic distribution. Google making sure it kept pace with ChatGPT the past few years has not benefited publishers but we find this as potentially marking a change in the opposite direction to stabilize/improve the health of the publisher ecosystem. To date, our SP rating has largely been due the DAU deceleration where visibility on a more positive impact here could allow us to get more constructive."

For an analyst ratings summary and ratings history on Reddit click here. For more ratings news on Reddit click here.

Shares of Reddit closed at $159.51 yesterday.

You May Also Be Interested In

• RBC Capital Upgrades Central Asia Metals plc (CAML:LN) to Sector Perform
• RBC Capital Starts Innio NV (INIO) at Sector Perform
• Morgan Stanley Assumes Prada SpA (1913:HK) (PRDSY) at Equalweight