Reddit 'Remains A Favorite' For Wall Street After 'Emphatic Beat And Raise' In Q3
Portfolio Pulse from Erica Kollmann
Reddit, Inc. (NYSE:RDDT) shares surged following a strong Q3 earnings report, with revenue up 68% year-over-year and a significant increase in daily active users. Analysts have raised price targets, citing growth in user engagement and advertising potential.
October 30, 2024 | 5:14 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Reddit's Q3 results exceeded expectations with a 68% revenue increase and a 47% rise in daily active users. Analysts have raised price targets, indicating strong growth potential.
Reddit's strong Q3 performance, with significant revenue and user growth, has led analysts to raise price targets. The company's potential in advertising and data licensing further supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100