Reddit shares jump 22% as AI deals boost quarterly revenue forecast
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Go back to Reddit shares jump 22% as AI deals boost quarterly revenue forecast
October 30, 2024 6:20 AM EDT
JPMorgan analyst Doug Anmuth raised the price target on Reddit (NYSE: RDDT) to $110.00 (from $77.00) while maintaining a Neutral rating.
The analyst comments "RDDT shares traded up +25% post-close as 3Q results & 4Q guidance across Revenue & Adj. EBITDA exceeded JPMe, consensus, & investor expectations. RDDTs 4Q guide assumes stable macro ad trends & we believe Reddit is benefitting from structural improvements as the company executes across its strategy across... More
October 30, 2024 6:16 AM EDT
Goldman Sachs analyst Eric Sheridan raised the price target on Reddit (NYSE: RDDT) to $105.00 (from $68.00) while maintaining a Neutral rating.
The analyst comments "We recap RDDTs Q324 earnings report which reflected a few key themes: 1) significant upside to Q3 revenues driven by a continued scaling... More
October 30, 2024 6:07 AM EDT
BofA Securities analyst Justin Post raised the price target on Reddit (NYSE: RDDT) to $99.00 (from $84.00) while maintaining a Neutral rating.
The analyst comments "3Q Rev/EBITDA at $348mn/$94mn was above Street at $310mn/$58mn. 3Q ad revenue at $315mn beat... More
