RDDT Stock Recent News

In the most recent trading session, Reddit Inc. (RDDT) closed at $75.17, indicating a +0.4% shift from the previous trading day.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Jefferies has initiated coverage on Reddit (NYSE:RDDT), citing the platform's impressive user growth, particularly after integrating AI-driven enhancements and improving its platform speed. Analysts initiated coverage with a "Buy" rating and a $90 price target, which implies a 28% upside from the current price.

SAN FRANCISCO, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Meltwater, a leading global provider of media, social and consumer intelligence, today announces the expansion of its partnership with Reddit, one of the internet's largest sources of information with 100,000+ active communities and ~91+ million daily active unique visitors. This strategic collaboration will grant Meltwater customers full access to Reddit's extended firehose, enabling them to tap into the vast wealth of public conversations and insights happening on the platform.

JP Morgan analyst Doug Anmuth maintained a Neutral rating on Reddit, Inc RDDT with a price target of $77, up from $59.

SAN FRANCISCO--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT), announced today that the company's third quarter 2024 financial results will be released after market close on Tuesday, October 29, 2024. Reddit will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. The live webcast of the conference call and related earnings materials can be accessed at Reddit's Investor Relations website at investor.redditinc.com and investor relations subreddit r/RDDT. A replay of.

The latest trading day saw Reddit Inc. (RDDT) settling at $65.97, representing a +0.08% change from its previous close.

RDDT stock is driven by robust user growth, expanding ad revenues and key partnerships, positioning it for continued success in the digital landscape.

You might use Reddit, but is it also worth a look for your portfolio?

Reddit's Q2 2024 revenue surged 54% YoY, driven by a 41% increase in Ad revenue and a 691% rise in Other revenue. The acquisition of Memorable AI enhances ad performance, leveraging Reddit's rich user interaction data to improve click-through rates and ad relevancy. Reddit's DAUq and WAUq grew over 50% YoY, highlighting strong user engagement and the platform's unique community-driven nature.