Bernstein analyst Mark Shmulik initiates coverage of Reddit with an "underperform" rating and a $40 price target, implying a 16% downside.
Bernstein analyst Mark Shmulik has initiated coverage of Reddit, assigning it an "underperform" rating and a $40 price target, suggesting a potential 16% downside. Shmulik points to challenges such as growth strategies like Pinterest and Snap, anonymous user base, adult content, and appealing to advertisers. Reddit, valued at $7.6bn, must prove growth and profitability as a public company.
April 06, 2024
3 Articles