Needham analyst Laura Martin earlier today raised the firm’s price target on Reddit (RDDT) to $190 from $120 and keeps a Buy rating on the shares. The firm increased estimates for Reddit’s Q4, fiscal 2025 and 2026 citing strong user and average revenue per user growth trends. The increased price target reflects the company’s stronger financial momentum expected over the next 24 months, the analyst tells investors in a research note. Needham says key areas driving Reddit’s growth in 2025 include higher search and shopping revenue, and higher international revenue. The firm also expects the overall markets and advertising demand to be stronger in 2025 versus 2024, driven by “more positive business sentiment.”
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