tiprankstipranks
Reddit price target raised to $85 from $65 at Bernstein
The Fly

Reddit price target raised to $85 from $65 at Bernstein

Bernstein raised the firm’s price target on Reddit (RDDT) to $85 from $65 and keeps an Underperform rating on the shares following quarterly results. The firm says the clouds around Reddit have “quickly defogged into a real Dr. Jekyll and Mr. Hyde story.” Pre-IPO Reddit felt stuck unable to grow users or monetize the platform or viewed as real business – this is Mr. Hyde, Bernstein explains. But post-IPO Reddit looks like a company that’s suddenly an AI winner, growing ad revenues at an unprecedented clip, has a user growth cheat-code in translation + Google (GOOGL), and hitting years-long profitability targets in months – this Dr. Jekyll. And right now, Dr. Jekyll is in charge, says the firm.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App