Piper Sandler raised the firm’s price target on Reddit (RDDT) to $150 from $140 and keeps an Overweight rating on the shares. The firm notes Reddit delivered an impressive quarter of financial growth with revenues and EBITDA 6% and 28% ahead of its forecast. Management is “executing phenomenally” well and Piper expects the Google (GOOGL)/daily average users friction to moderate in time.
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