This week, various analysts started covering Reddit (RDDT) with notes, and the overall rating is currently a Buy.
Citi gave Reddit a “buy” rating in a note, started with a price target of $53, and highlighted the social media company's accelerating user engagement. He also mentioned that monetization through data licensing options is progressing.
JP Morgan initiated Reddit with a neutral rating and a $47 price target. The investment bank said the company has a “compelling story” but needs strong execution while its current valuation is healthy.
Loop Capital, which initiated RDDT with a buy rating and $55 price target, said the social media platform “differentiates itself from other social media companies with multi-layered content moderation.”
Needham & Company rates Reddit a “buy” and sets a price target of $55. “RDDT's 18-year library of human conversations is updated daily and we believe it is increasingly valuable for large-scale language model (LLM) training and brand 'social listening,'” the company said. .
Reddit also gave Deutsche Bank a “buy” rating. The target price was set at $50 per share. “We believe Reddit is in the early stages of many positive changes,” the company said.
Piper Sandler said Reddit is a unique platform to grow advertising and AI revenue. The company initiated the stock with an Overweight rating, with a price target of $50.
Morgan Stanley initiated Reddit with an equal weight target price of $45. The bank said there's a lot to like, but the stock is fairly valued at the moment.
JMP Securities says Reddit is a young platform with multiple growth levers. They assigned the stock a market outperform rating and a $53 price target.
Roth MKM initiated RDDT as Buy with a price target of $50. The company stated: [the] The Internet deserves to be appreciated. ”
Finally, Goldman Sachs initiated Reddit with a Neutral rating and $40 price target. However, the bank believes its loyal user base provides long-term growth and profit opportunities.
