Reddit price target lowered to $66 from $67 at Roth MKM

Roth MKM lowered the firm’s price target on Reddit to $66 from $67 and keeps a Buy rating on the shares. The company delivered an emphatic beat-and-raise earnings report with upside to the firm’s recently raised estimates, while accelerating user growth, sturdy foundations from current AI data licensing deals, and a myriad of new products in testing were sources of positive surprise, the analyst tells investors in a research note.