Reddit (RDDT) Stock Surges on Bullish Analyst Sentiment and Strong Q1 Earnings

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2026-05-28 10:33:01

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Reddit shares rallied 5.78% to $144.83 after D.A. Davidson and Citigroup dismissed competitive threats from Meta's Forum app, citing resilient user metrics. The social media platform now trades at a 37% discount year-to-date despite beating Q1 estimates with $1.01 EPS and $663.41M revenue (69.1% YoY growth).

Institutional confidence grows as UBS AM increases its position by 106.3%. Analysts maintain a 'Moderate Buy' consensus with a $228.61 average price target—58% upside from current levels. Key catalysts include Reddit's upcoming fireside chat at the BofA Tech Conference and a live investor AMA.

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