Reddit price target lowered to $120 from $195 at Roth Capital

Roth Capital lowered the firm’s price target on Reddit (RDDT) to $120 from $195 and keeps a Neutral rating on the shares as part of a broader research note previewing Q1 results for Social Media names. The firm’s checks suggest ad spend reductions in April and likely cuts as Q2 progresses and if tariff uncertainty lingers, the analyst tells investors in a research note. While earnings from Alphabet (GOOGL) did not provide incremental conviction on Q2 trends, YouTube slowdown driven by Brand spend hints at top-of-funnel campaign objectives which likely saw softness in Q1 as well, Roth states, noting that it remains cautious on SMID Advertising platforms despite positive reaction to Google earnings, preferring to stay on the sidelines despite stock corrections.