Piper Sandler raised the firm’s price target on Reddit (RDDT) to $210 from $197 and keeps an Overweight rating on the shares. The firm notes Reddit delivered another quarter of strong results with revenues 7% above its expectation and EBITDA +33% better. Following a 30% year-to-date run into the close, expectations were stretched. That said, Piper sees the story as mostly unchanged and raises numbers. The firm expects aftermarket pressure to attract buyers.
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