Reddit Partnerships With OpenAI, Google And Sprinklr Drive Upside: Analysts
Portfolio Pulse from Anusuya Lahiri
Reddit, Inc (NYSE:RDDT) is seeing positive analyst sentiment due to partnerships with OpenAI, Google, and Sprinklr, and strong financial performance. Analysts from Piper Sandler, JMP, and Goldman Sachs have provided favorable ratings and price targets, citing revenue and EBITDA growth. Despite this, Reddit's stock traded lower by 7.01% at $50.61.

August 07, 2024 | 6:17 pm
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POSITIVE IMPACT
Sprinklr Inc is benefiting from its partnership with Reddit, which is seeing strong financial performance and positive analyst sentiment.
Sprinklr's partnership with Reddit contributes to Reddit's strong performance, which could have a positive indirect impact on Sprinklr's business and stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Alphabet Inc (Google) is indirectly benefiting from its partnership with Reddit, which is seeing strong financial performance and positive analyst sentiment.
Google's partnership with Reddit contributes to Reddit's strong performance, which could have a positive indirect impact on Google's business and stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Reddit is benefiting from partnerships with OpenAI, Google, and Sprinklr, leading to strong financial performance and positive analyst ratings. Despite this, the stock traded lower by 7.01%.
Reddit's partnerships and strong financial performance have led to positive analyst ratings and increased price targets. However, the stock's recent decline suggests market volatility or profit-taking.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100