Roth Capital raised the firm’s price target on Reddit (RDDT) to $145 from $130 and keeps a Neutral rating on the shares. The firm expects upside to Q2 high-end guidance, but is worried about “dependence” on Google (GOOGL) and the growing negative impact from AI Search, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RDDT:
- Reddit price target raised to $170 from $154 at Morgan Stanley
- PINS vs. SNAP: TD Cowen Picks the Better Social Media Stock Ahead of Q2 Earnings
- France launches criminal probe into X over algorithm manipulation, Politico says
- Moderately bullish activity in Reddit Inc with shares up 1.48%
- Yaccarino discussed plans to leave X earlier this week, NYT reports