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While shares of Reddit (RDDT -5.15%) tumbled following its Q4 earnings report, the social media company's stock is still up a solid 20% year to date, as investors have embraced the stock after its March 2024 IPO. After debuting at $34, the stock is up more than five times in less than a year.
Piper Sandler still sees more upside for the social media platform.
Reddit (RDDT -9.11%) stock is sinking in Thursday's trading. The social media company's share price was down 9.4% as of 2:45 p.m.
SAN FRANCISCO--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT), today announced its participation in two upcoming investor conferences. Jen Wong, Chief Operating Officer, will participate in the Morgan Stanley Technology, Media & Telecom Conference. The Fireside Chat session is scheduled for 1:45 p.m. Eastern Time / 10:45 a.m. Pacific Time on Tuesday, March 4, 2025 Steve Huffman, Co-Founder & CEO, will participate in the Deutsche Bank 33rd Annual Media, Internet & Telecom Conference. The.
RDDT benefits from strong user growth, AI-driven partnerships and a surge in ad revenues. However, concerns over valuation and market competition persist.
The digital advertising market is doing so well that even Reddit is getting a cut of the spoils. "Advertisers feel like consumers are susceptible to advertising and are investing in that," said Gil Luria, head of tech research at investment banking firm D.A.
Reddit shares dropped 15% post-earnings despite strong results, presenting a potential buying opportunity for long-term investors. Q4 2024 saw revenues of $428 million, a 71% increase, crushing street estimates yet again, while reporting strong bottom-line improvement. Current quarter guidance was above expectations, and RDDT's improving financials suggest the potential for S&P 500 inclusion.
Reddit COO Jen Wong speaks about the benefits of Google's impact on the company as they post fourth quarter earnings that missed analyst estimates. He joins Caroline Hyde and Jackie Davalos on "Bloomberg Technology".
Shares of Reddit Inc RDDT tanked in early trading on Thursday, despite the company reporting upbeat fourth-quarter results.
Reddit (RDDT) shares slip lower Thursday morning after the social media platform beat fourth quarter revenue and earnings estimates, while daily active users fell below expectations (101.7 million vs. analyst consensus forecasts for 103.8 million).