Roth MKM downgraded Reddit (RDDT) to Neutral from Buy with a price target of $195, up from $116. The firm is raising its estimates and target, but notes that since going public in March of last year at a $34 IPO price, Reddit shares have gone up about 450%. Given the rise in the share price, the firm believes the near-term risk/reward is fairly balanced at current levels.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RDDT:
- MrBeast joins new bid to buy TikTok, Bloomberg reports
- President Trump open to Musk, Ellison purchasing TikTok, Bloomberg says
- “Strong Buy” Rating Sends Reddit (RDDT) Stock to Record High
- AI Daily: Trump revokes Biden executive order on addressing AI risks
- TikTok comes back online in U.S., Schwab reports Q4 beat: Morning Buzz