.September 20, 2024 Friday 04:24:00 AM

B.Riley analysts have initiated coverage on Reddit (NYSE:RDDT) with a Buy rating and a price target of $75, citing the platform’s unique appeal to millions of users across various communities. They believe Reddit is still in the early stages of monetization through advertising and data licensing, positioning it for strong growth and margin expansion. With a valuation of around 31x 2025 estimated EBITDA, analysts see an attractive risk/reward profile due to Reddit’s growth potential and leverage opportunities in the future.