Reddit Inc's shares surged following impressive Q1 sales performance, beating estimates with a 14.82% pre-market rise on Wednesday. JPMorgan analyst Doug Anmuth maintained a Neutral rating but raised the price target from $47 to $57, citing the need for Reddit to demonstrate sustained growth. The company's revenue grew nearly 50% Y/Y to $243 million, with daily active users increasing to 83 million. Anmuth highlighted Reddit's ad stack enhancements and strategic investments as key growth drivers, while also noting the challenges ahead in sustaining this growth.