Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Reddit stock is down 35% from its high: buy the dip or sell the rip? By: Invezz April 15, 2024 at 09:17 AM EDT Reddit Inc (NYSE: RDDT) has lost nearly 35% in about three weeks but a Morgan Stanley analyst recommends not counting on a swift recovery.Reddit stock has limited upside from hereThe investment firm assumed coverage of the social media platform today with a “neutral” rating and $45 price target that suggests a near 5.0% upside only.Analysts at Morgan Stanley did acknowledge potential for ads growth but cited valuation concerns for their somewhat dovish view on the Reddit stock.Valuation leaves us on the sidelines, as we wait for evidence of outsized user growth and faster execution.Watch here: https://www.youtube.com/embed/ernwEzDFGu8?feature=oembedThe news arrives only weeks after Cathie Wood – the founder and chief executive of Ark Invest revealed a position worth just over $500 million in $RDDT (find out more).JPMorgan also rates $RDDT at ‘neutral’Revenue growth topped cost at Reddit Inc by about three times last year. The New York listed firm was profitable as well in the back half of 2023.Plus, there’s an artificial intelligence angle to its story as well. Still, Morgan Stanley is not the only firm that has recently opted to remain cautious on $RDDT. Doug Anmuth – a JPMorgan analyst also initiated Reddit stock at “neutral” this month. Its “base of 73 million users is relatively sub-scale” he told clients in a recent research note.Both $JPM and $MS were underwriters for the initial public offering of Reddit in March. They, therefore, had to wait for about a month before initiating coverage of the forum social network.The post Reddit stock is down 35% from its high: buy the dip or sell the rip? appeared first on Invezz Related Stocks: Bio-Techne Corp Liberty All Star Equity Fund Reddit, Inc. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Reddit stock is down 35% from its high: buy the dip or sell the rip? By: Invezz April 15, 2024 at 09:17 AM EDT Reddit Inc (NYSE: RDDT) has lost nearly 35% in about three weeks but a Morgan Stanley analyst recommends not counting on a swift recovery.Reddit stock has limited upside from hereThe investment firm assumed coverage of the social media platform today with a “neutral” rating and $45 price target that suggests a near 5.0% upside only.Analysts at Morgan Stanley did acknowledge potential for ads growth but cited valuation concerns for their somewhat dovish view on the Reddit stock.Valuation leaves us on the sidelines, as we wait for evidence of outsized user growth and faster execution.Watch here: https://www.youtube.com/embed/ernwEzDFGu8?feature=oembedThe news arrives only weeks after Cathie Wood – the founder and chief executive of Ark Invest revealed a position worth just over $500 million in $RDDT (find out more).JPMorgan also rates $RDDT at ‘neutral’Revenue growth topped cost at Reddit Inc by about three times last year. The New York listed firm was profitable as well in the back half of 2023.Plus, there’s an artificial intelligence angle to its story as well. Still, Morgan Stanley is not the only firm that has recently opted to remain cautious on $RDDT. Doug Anmuth – a JPMorgan analyst also initiated Reddit stock at “neutral” this month. Its “base of 73 million users is relatively sub-scale” he told clients in a recent research note.Both $JPM and $MS were underwriters for the initial public offering of Reddit in March. They, therefore, had to wait for about a month before initiating coverage of the forum social network.The post Reddit stock is down 35% from its high: buy the dip or sell the rip? appeared first on Invezz Related Stocks: Bio-Techne Corp Liberty All Star Equity Fund Reddit, Inc.