Streetbeat News

RDDT

Reddit, Inc.

https://www.redditinc.com

Industry

Internet Content & Information

Reddit, Inc. operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California. Reddit, Inc. operates as a subsidiary of Advance Publications, Inc.

Open

121.57

Mkt cap

23B

Volume

7.6M

High

133.22

P/E Ratio

-43.24

52-wk high

133.22

Low

121.57

Div yield

N/A

52-wk low

37.35

Reddit Inc (NYSE:RDDT) has announced an expanded partnership with Sprinklr Inc (NYSE:CXM) to enhance their Data API and Advertising API. This partnership will allow Sprinklr customers to access Reddit's full advertising suite and integrate it into their enterprise strategies, providing enhanced feedback, sentiment, trends, and competitive insights.

Portfolio Pulse from Adam Eckert

June 06, 2024 | 2:58 pm

Sprinklr, Inc. (NYSE:CXM) shares are down 23.6% after reporting mixed Q1 FY25 results. Despite beating sales and EPS estimates, the company cut its FY25 revenue outlook and provided weak Q2 guidance. Additionally, Sprinklr announced Trac Pham as co-CEO and an expanded partnership with Reddit, Inc. (NYSE:RDDT). Multiple analysts downgraded the stock and lowered price targets.

Portfolio Pulse from Lekha Gupta

June 06, 2024 | 1:26 pm

Sprinklr and Reddit have announced an expanded strategic partnership, making Sprinklr the first official partner for Reddit's Data API and Advertising API.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:09 pm

Shutterstock Inc. (NYSE:SSTK) has partnered with Reka AI to enhance its digital asset metadata using multimodal language AI models. This partnership aims to improve the metadata of Shutterstock's extensive library of digital assets. The licensing business with AI firms generated $104 million in revenue last year, and Shutterstock anticipates this segment to generate $250 million in sales by 2027. The company's shares are currently trading lower by 2.13%.

Portfolio Pulse from Shivani Kumaresan

June 04, 2024 | 4:51 pm

Reddit Inc (NYSE:RDDT) shares are trading higher after Keith Gill, known as 'Roaring Kitty,' posted on Reddit for the first time in three years, suggesting a $116 million bet on GameStop Corp (NYSE:GME). Gill's post has sparked renewed interest in meme stocks.

Portfolio Pulse from Adam Eckert

June 03, 2024 | 2:10 pm

Reddit shares are trading higher after Keith Gill, known for his role in the GameStop short squeeze, posted on the platform for the first time in three years, indicating his position on GameStop.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2024 | 12:07 pm

JMP Securities analyst Andrew Boone upgraded Duolingo, Inc. (NASDAQ:DUOL) from Market Perform to Market Outperform with a price target of $260. Key growth drivers include the broader rollout of Max, optimization of subscription tiers, and the launch of a conversational experience. Duolingo's shares have declined ~21% year to date, making the valuation more reasonable. The analyst sees significant potential for revenue growth from the new features and upgrades.

Portfolio Pulse from Nabaparna Bhattacharya

May 28, 2024 | 6:20 pm

Google is testing a special snippet treatment for Reddit search results, adding upvote and comment counts to provide more information to searchers. This could lead to increased traffic to Reddit from Google Search.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 3:22 pm

Reddit CEO Steve Huffman shared strategic updates at the JPMorgan TMC Conference, highlighting Reddit's growth in data licensing, ad tech, user growth, and platform quality. Key initiatives include partnerships with OpenAI, improvements in ad tech, and enhancements in search capabilities.

Portfolio Pulse from Surbhi Jain

May 22, 2024 | 1:38 pm

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:14 pm

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