Reddit shares gained Monday after Seaport Global’s Aaron Kessler upgraded the stock from Neutral to Buy and set a $165 price target, according to Benzinga. Kessler cited surging ad revenue, international user momentum, and a growing commercial user base. Reddit posted first-quarter revenue of $392.36 million and earnings of $0.13 per share, both beating estimates. Daily active users grew in the high teens, and advertiser count rose 50% year-over-year. The analyst expects Reddit’s growing base of logged-in users to support long-term user growth in the U.S. While AI search is rising, Kessler believes users will still seek in-depth discussion, positioning Reddit as a strong alternative.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Reddit shares gained Monday after Seaport Global's Aaron Kessler upgraded the stock from Nutra to
00:06Buy and set a $165 price target according to Benzinga. Kessler cited surging ad revenue,
00:12international user momentum, and a growing commercial user base. Reddit posted first
00:16quarter revenue of $392.36 million, earnings of $0.13 per share, both beating estimates.
00:22Daily actor users grew with high teens, and advertiser count rose 50% year over year.
00:26The analyst expects Reddit's growing base of logged-in users to support long-term user
00:31growth in the U.S. While AI search is rising, Kessler believes user will still seek in-depth
00:36discussion to shake Reddit as a strong alternative.
00:38For all things money, visit Benzinga.com slash GSTV.