Loop Capital raised the firm’s price target on Reddit (RDDT) to $180 from $120 and keeps a Buy rating on the shares. The stock has quadrupled since its March IPO as both the June and September quarter showed significant user, revenue, and profit upside surprises, and the Street is continuing to underestimate both user growth and the corresponding financial impact for the company, the analyst tells investors in a research note. Loop adds that while its 2025 and 2026 estimates assume a slowdown from the current growth rate, the firm is still modeling revenue growth of over 30%.
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