Reddit (RDDT) stock jumps 5% in afternoon trade as Wall Street resets targets
Reddit shares jumped 5.4% to $149.38 Tuesday, swinging as high as $152.34 while major indexes were flat or down. Analysts adjusted price targets after last week’s strong earnings and a $1 billion buyback plan. Fourth-quarter revenue rose 70% to $726 million, with daily active users up 19%. Investors are watching for buyback timing and the next earnings report, expected April 30.