Reddit: Jefferies raises its target price

(CercleFinance.com) - Jefferies announced on Wednesday that it had raised its price target for Reddit from $215 to $230, while renewing its buy recommendation on the stock.


In a study devoted to American Internet players - entitled 'Possible new ways to play the AI theme' - the American broker considers the social media company to be, alongside Booking, Uber, DoorDash and Duolingo, among the most interesting stocks to hold from this perspective.

In particular, the broker believes that Reddit could sign new licensing agreements for the use of its data, a high-margin source of revenue that the market consensus does not seem to have fully taken on board from his point of view.

With regard to Q4 results, expected on February 12, Jefferies is counting on an acceleration in sales against a backdrop of strong advertising revenues, as the group attempts to catch up with the monetization lag it has had on its comparables for several years.

The professional also expects to see proof that the company is able to steadily increase the number of its registered daily visitors (DAU) by more than 20%.

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