Piper Sandler lowered the firm’s price target on Reddit (RDDT) to $140 from $220 and keeps an Overweight rating on the shares. For Q1, the firm sees daily average users as most important given the Google Core update in December. Piper forecasts 108M Q1 DAUs, +6.5M quarter-over-quarter. The firm is at $369M in Q1 revenue and $89.8M in EBITDA. Piper lowered its 2025/2026 revenue forecast 4%/7%, respectively.
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