Reddit (RDDT) Surges Over 4.7% Following Jefferies' Buy Rating

1 day ago

Social media company Reddit (RDDT, Financial) saw its stock rise by over 4.7%, reaching $74.1. Jefferies initiated coverage on Reddit with a "Buy" rating and set a price target of $90. The firm highlighted that Reddit's user growth, fueled by advancements in artificial intelligence, has reached its highest level in over two years. Furthermore, the platform's deep integration with Google Search has also driven user expansion. Jefferies anticipates more high-margin data licensing agreements in the future.

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