B. Riley starts Reddit at Buy, sees ‘aplenty’ of monetization opportunities

As previously reported, B. Riley initiated coverage of Reddit with a Buy rating and $75 price target. The company offers “monetization opportunities aplenty” as it offers a differentiated value proposition to users, advertisers, and content licensees through its “unique” platform powering tens of millions of users across 100K+ communities while creating a large and growing repository of curated content, the analyst tells investors in a research note. Reddit is in a relatively early phase of monetizing the platform through advertising and data licensing and is positioned for healthy top-line growth and margin gains in the coming years, the firm added.