Reddit (RDDT) PT Raised to $90 at Loop Capital

Loop Capital analyst Alan Gould raised the price target on Reddit (NYSE: RDDT) to $90.00 (from $80.00) while maintaining a Buy rating.

The analyst commented: "We are raising our DAU forecasts, particularly internationally, and increasing our revenue and EBITDA estimates a few million ahead of guidance. We are also increasing our PT to $90 from $80 and reiterate our Buy rating. Advertising should benefit from new products such as dynamic product ads and its recent deal with major sports leagues including the NFL and new surfaces such as the conversations page. We have not modeled in major AI licenses beyond the already announced Google and Open AI deals, but would expect RDDT to strike similar deals with other large language model companies."

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