Reddit: Has Upside As It Grows Its Users And Leverages Its Data [Seeking Alpha]
Reddit, Inc. Class A (RDDT)
Company Research
Source: Seeking Alpha
Play 9min Summary 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. Despite current unprofitability, Reddit's positive cash flow and potential for ad revenue growth justify a speculative Buy rating. stockcam Reddit, Inc. ( NYSE: RDDT ) had its IPO earlier this year. I believe that the company has plenty of promise. This article delves into the company's latest results and its growth initiatives moving forward. Solid Q2 Results Reddit recently released its This article was written by Value Kicker 3.71K Follower s Follow Nine to 5 by day. Hobbyist stock trader by night. I got an MBA and a CFA ... so that should count
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RDDT
News
- Reddit Partners with InMarket to Measure the Real-World Impact of Advertising Campaigns with Lift Conversion Index (LCI)PR Newswire
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at JMP Securities from $84.00 to $118.00. They now have a "market outperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Citigroup Inc. from $70.00 to $120.00. They now have a "buy" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Sanford C. Bernstein from $65.00 to $85.00. They now have an "underperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Roth Mkm from $89.00 to $116.00. They now have a "buy" rating on the stock.MarketBeat
RDDT
Earnings
- 10/29/24 - Beat
RDDT
Sec Filings
- 11/15/24 - Form 144
- 11/15/24 - Form 144
- 11/14/24 - Form SC
- RDDT's page on the SEC website