
Reddit Inc.'s stock, trading under the ticker $RDDT, has faced a sharp decline, dropping 20% on Monday and 52% over the past month. The decline is partly attributed to a Google algorithm change that negatively impacted search-derived traffic, leading to weaker-than-expected fourth-quarter user numbers. Despite the downturn, Loop Capital has reiterated a 'Buy' rating on Reddit, maintaining a $210 price target. The firm emphasized Reddit's strong financial performance, including a 71% year-over-year increase in fourth-quarter sales to $428 million, and highlighted its potential for future growth. On Tuesday, Reddit's stock rebounded by over 10%, following the analyst note. However, the stock remains significantly below its peak of $230, achieved after its IPO at $47 in 2024. Analysts have characterized the recent sell-off as excessive, suggesting the stock may present an attractive investment opportunity.
That Google algo drop they saw really hit their stock price. Now increasing, but still down a lot -> Reddit rallies after three-day slump as analyst calls sell-off ‘excessive’ Stock price trending below... https://t.co/MgrJuGFT1p https://t.co/SnKrwuToWr
$RDDT Reddit 'extremely attractive' after 50% stock price decline, says Loop Capital, keeps a Buy rating and $210 price target
Achetez le repli de l'action Reddit conseille un analyste https://t.co/ByaHSuVgFM




