Roth Capital analyst Rohit Kulkarni raised the firm’s price target on Reddit (RDDT) to $210 from $185 and keeps a Neutral rating on the shares. The company reported another healthy beat and raise earnings print with Q3 adjusted EBITDA margins reaching 40%, despite U.S. user growth remaining somewhat subdued, the analyst tells investors in a research note. Several AI data catalysts lay ahead, including renewal discussions with Google and OpenAI and ongoing lawsuits against Anthropic and Perplexity that likely add to near-term volatility, the firm added.
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