B. Riley raised the firm’s price target on Reddit (RDDT) to $222 from $187 and keeps a Buy rating on the shares. The company’s Q4 results and outlook topped expectations, driven by strength in its core advertising business, the analyst tells investors in a research note. The firm says that while Reddit’s daily active user growth may have slowed somewhat due to Google’s search ranking change in late Q4, it does not view it as a cause for concern.
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