Why Is Reddit Stock Surging Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 29 2024
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Source: Benzinga
Reddit's Service Recovery: Reddit shares surged after the company resolved a recent outage that affected thousands of users, with over 152,982 reports logged by Downdetector.
Financial Performance: Reddit reported second-quarter revenue of $281.2 million, exceeding estimates, and anticipates third-quarter revenue between $290 million to $310 million, contributing to a 4.98% increase in RDDT shares.
Analyst Views on LOUP
Wall Street analysts forecast LOUP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LOUP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 81.250
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Current: 81.250
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
