Reddit up; DA Davidson initiates with 'buy' rating

Reddit

21/04/2026 12:01

** Social media company Reddit's RDDT.N shares rise 1.6% to $169.00 premarket

** D.A. Davidson & Co initiates RDDT coverage with "buy" rating and $200 price target, implying ~20% upside to the stock's last close

** Brokerage says it believes that Reddit remains incredibly under-monetized relative to peers

** Adds that despite the heightened focus on enterprise from the LLMs, brokerage assumes Reddit can renew LLM contracts at a 15-30% higher rate than existing deals

** 19 of 29 brokerages rate the stock "buy" or higher, nine "hold" and one "sell"; their median PT is $250 - data compiled by LSEG

** As of last close, stock down ~28% this year

 (Reporting by Jaspreet Singh in Bengaluru)

 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))