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$RDDT Reddit price target raised to $55 from $40 at Goldman Sachs
Goldman Sachs analyst Eric Sheridan raised the firm's price target on Reddit to $55 from $40 and keeps a Neutral rating on the shares. The firm updated its forecasts for the company's inaugural public company earnings report and managment's updated forward commentary. The firm expects the broader digital advertising landscape health, Reddit's idiosyncratic execution of Daily Active Uniques and sustaining momentum around advertiser count growth and advertiser budget as likely to be "the key driver of investor debates and any stock price volatility" in the coming quarters, the analyst tells investors.