.September 19, 2024
11:00:08 PM

B. Riley has initiated coverage on Reddit Inc. (NYSE:RDDT) with a Buy rating and a price target of $64.56, emphasizing the company’s strong market position and growth potential. Despite lagging behind the broader market, Reddit’s stock performance showed a 1.41% increase, reflecting investor confidence and solid financial health. Seeking Alpha’s analysis supports a bullish stance on Reddit, highlighting its strong cash position, lack of debt, and a projected Compound Annual Growth Rate (CAGR) of 30%, making it an appealing investment opportunity.