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Truist Securities has initiated a ‘Buy’ rating for Reddit Inc. (NASDAQ: RDDT), citing its significant growth in digital advertising and user engagement. The firm has set a price target of $150, driven by Reddit’s expanding user base and innovative advertising strategies.
Analyst Initiates Bullish Coverage on Reddit, Expects Revenue to 2x by 2027
Truist Securities has taken a bullish stance on Reddit Inc., initiating coverage with a ‘Buy’ rating and a price target of $150. This decision is primarily influenced by Reddit’s rapid expansion in the digital advertising domain and its substantial user growth.
Reddit’s daily active users surged by 39% year-over-year, reaching 102 million by the end of 2024, with ambitious plans to expand to 1 billion globally. The company’s revenue, which was $1.3 billion in FY24, is projected to nearly double by 2027, driven by gains in digital ad share and enhanced monetization strategies.
Key factors such as Reddit’s context-driven ad model and emerging AI capabilities are anticipated to play a pivotal role in its revenue growth.
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RDDT Stock Brief
Reddit’s stock has experienced notable fluctuations, reflecting both investor optimism and broader market uncertainties. On April 7, 2025, the stock opened at $81.01 and reached a high of $97.0, with a current price of $90.371. This movement is part of a broader trend observed since its IPO in March, where shares have surged due to confidence in Reddit’s advertising scalability and user engagement.
Despite these gains, the stock’s 52-week high of $230.41 contrasts sharply with its 52-week low of $37.35, indicating significant volatility. Key metrics such as a market cap of over $16 billion and a forward P/E ratio of 134.88 highlight the market’s high expectations for Reddit’s future performance.
However, potential risks include regulatory changes, macroeconomic factors, and increasing competition, which could impact Reddit’s growth trajectory.
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
About the author
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird’s US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
