Truist analyst Youssef Squali raised the firm’s price target on Reddit (RDDT) to $270 from $260 and keeps a Buy rating on the shares. The firm remains constructive on Reddit following a strong Q3 earnings beat and a Q4 guide which comfortably exceeds consensus, driven by broad-based strength across verticals, geos, and channels, the analyst tells investors in a research note. The firm’s bullish outlook reflects a stable macro, strong user engagement and continuous product improvements driving solid advertiser onboarding across both Direct Response and Brand, the firm added.
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