Reddit Analysts Expect 'Strong Beat And Raise, Healthy Engagement Trends' For Q1 Earnings
Portfolio Pulse from Surbhi Jain
Reddit Inc (NYSE:RDDT) is set to report its Q1 earnings with analysts expecting a strong performance. Wall Street predicts -$8.71 EPS and $212.83 million in revenues. This marks Reddit's first earnings report since its NYSE debut. Analysts from Bank of America and JMP have provided insights, expecting strong advertising revenue and user engagement trends. The consensus analyst rating is a Buy with a target price of $49.86. Reddit's stock was trading at $49.25 at the time of publication.
May 06, 2024 | 6:20 pm
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POSITIVE IMPACT
Reddit Inc is anticipated to have a strong Q1 earnings report, with expectations of significant advertising revenue and user engagement. Analysts maintain positive outlooks with raised price targets.
The anticipation of a strong earnings report based on advertising revenue and user engagement trends, coupled with positive analyst ratings and raised price targets, suggests a potential short-term positive impact on RDDT's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100