RedditNYSE: RDDT

Reddit stock soared this past week, hitting record highs after the company reported its first profitable quarter as a public company. The post Reddit Stock Soars To Record Highs On First Profitable Quarter As Public Company appeared first on Investor's Business Daily.

Reddit stock is having the best day in its short history after the social media platform announced third-quarter 2024 results yesterday that were better than most analysts expected. Investors are rewarding the company.

Reddit has turned a profit for the first time as a public company.

Soaring to new highs, Reddit's (RDDT) stock has spiked more than +30% today after crushing its third-quarter expectations after market hours on Tuesday.

Analysts at Bank of America have raised their price target for Reddit (NYSE:RDDT) after the social media platform delivered a strong third quarter earnings report and upbeat outlook. The analysts raised their price objective to $99 from $84 on its upwardly revised forward estimates which reflect higher ad revenue offset by slightly lower data revenue.

Reddit (RDDT) soared on a massive rally after turning a profit and raising its fourth quarter guidance. Seema Shah says the company is significantly smaller than competitors but has also seen significant growth.

RDDT's third-quarter 2024 results benefit from strong user growth, higher ARPU and AI-powered services.

Reddit (RDDT) shares are surging Wednesday after the social media firm posted its first quarterly profit as a public company with higher-than-estimated results and a rosy fourth-quarter outlook.

Reddit (RDDT) shares are surging 24% in premarket trading Wednesday after the social media firm posted its first quarterly profit as a public company with higher-than-estimated results and a rosy fourth-quarter outlook.