RDDT
Another green light from the Street
Piper Sandler basically told Reddit: the hype isn’t over yet. The firm reiterated an Overweight rating and left its $205 price target untouched, which is a polite way of saying it still thinks the stock has legs even after a pretty healthy run.
Why you should care
At Thursday’s price of $158.48, Piper’s target implies meaningful upside. That matters because Reddit is still in that awkward-but-exciting phase where investors are trying to figure out whether it’s a one-hit wonder or a real long-term ad and user-growth machine.
The bigger setup
This isn’t the only bullish voice in the room either. Wall Street’s consensus rating sits at Outperform, with targets ranging from $125 to $300 — which is basically analyst-speak for “nobody agrees, but everyone’s watching.”
For shareholders, the key question is whether Reddit can keep turning user engagement into durable revenue growth without turning the platform into a featureless billboard. If it can, ratings like this help keep the story’s momentum going.
Big picture: Reddit’s still trading like a company with a lot to prove — and a lot of people on Wall Street still want to give it the benefit of the doubt.