Analyst revises Reddit stock price amid stronger ad metrics and growth outlook

Reddit (NYSE: RDDT) has faced considerable volatility since its IPO in March 2024, fueled by its “meme stock” status. However, it has recently surged nearly 240% year-to-date, capturing significant investor attention.The stock has captured the spotlight once again after Piper Sandler analyst Thomas Champion raised the company’s price target from $115 to$150, driven by robust advertising metrics and accelerating user growth in October.Notably, Reddit’s stock has already surpassed the updated price target, c ...