Reddit (RDDT) stock continues to rise after reporting its fifth consecutive profitable quarter, earning $0.80 per share with $585 million in revenue, a 68% YoY growth. Despite a 20% drop from its YTD high, Reddit’s AI partnerships and 74% increase in ad revenue make it an attractive investment option.

Options data suggests RDDT shares will continue to climb, with a put/call ratio skewed to the upside. Contracts expiring Jan. 16 predict a potential increase to $253, with an expected move of 9.39% by Nov. 14. With shares trading below the 50-day MA, a break above could boost bullish momentum.

Wall Street analysts recommend holding onto RDDT stock for the long term, with a consensus rating of “Moderate Buy” and a mean target of $232, suggesting a 10% potential upside. Reddit’s strong financial performance and growth in user base make it a promising investment opportunity.

Read more at Barchart: Reddit Stock Is Up on Q3 Earnings. Options Data Tells Us RDDT Could Be Headed Here Next.