Core Insights - Reddit Inc reported better-than-expected fourth-quarter financial results, with revenue of $427.71 million, surpassing the consensus estimate of $405.26 million, and earnings of 36 cents per share, exceeding analyst estimates of 25 cents per share [1][2] Financial Performance - Fourth-quarter revenue: $427.71 million, beating estimates by $22.45 million [1] - Fourth-quarter earnings per share: 36 cents, exceeding estimates by 11 cents [1] - First-quarter revenue guidance: expected to be between $360 million and $370 million, slightly above estimates of $358.08 million [2] - First-quarter adjusted EBITDA forecast: between $80 million and $90 million [2] Market Reaction - Reddit shares increased by 1.3%, closing at $216.47 following the earnings announcement [3] Analyst Ratings and Price Targets - Morgan Stanley analyst Brian Nowak maintained an Overweight rating and raised the price target from $200 to $210 [4] - Baird analyst Colin Sebastian maintained a Neutral rating and raised the price target from $160 to $185 [4] - Needham analyst Laura Martin maintained a Buy rating and raised the price target from $190 to $220 [4] - B of A Securities analyst Justin Post maintained a Neutral rating and raised the price target from $180 to $190 [4]
Reddit Analysts Increase Their Forecasts After Strong Earnings