Oppenheimer raised the firm’s price target on Reddit (RDDT) to $300 from $215 and keeps an Outperform rating on the shares. The firm cites higher estimates and multiple. Similarweb regression suggests Q3 U.S. logged-in daily average users 0.8M/1.1M above Opco/Street. Quarter-to-date ad portal visits also accelerated on 2-year basis to +47% vs. Q2/Q1’s +30%/+19%, consistent with 3P commentary pointing to improving ROI on driving higher ad spend. While Q3 revenue estimate is unchanged, margins are higher.
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