Reddit Rallies On Ad Surge, Global Growth: Analyst Upgrades To Buy
1. Seaport Global upgraded Reddit from Neutral to Buy, targeting $165. 2. Reddit's Q1 revenue reached $392 million, exceeding forecasts. 3. Total daily active users (DAUs) grew significantly in April. 4. International user growth is strong, now 54% of total users. 5. Reddit expects continued ad revenue strength, targeting $410-$430 million next quarter.