B. Riley raised the firm’s price target on Reddit (RDDT) to $187 from $112 and keeps a Buy rating on the shares. The analyst believes Reddit remains in the early innings of growth and margin expansion and is well positioned to outpace the category and exceed Street expectations. The firm expects “robust” growth in advertising revenue, driven by an increase in users and higher monetization. Leverage from growing scale positions Reddit well to deliver strong margin expansion for the foreseeable future, the analyst tells investors in a research note.
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