Oppenheimer Lifts Reddit (RDDT) Price Target to $300, Cites Strong User Growth

Reddit, Inc. (NYSE:RDDT) is one of the Must-Watch AI Stocks on Wall Street. On September 16, Oppenheimer analyst Jason Helfstein raised the price target on the stock to $300 from $215 while maintaining an Outperform rating. The firm cited higher estimates and multiple behind the price target raise.

Similarweb regression has revealed that Q3 US logged-in daily average users 0.8M/1.1M above Opco/Street. The metric is considered a primary driver of Reddit’s revenue. Meanwhile, Quarter-to-date ad portal visits also increased on a 2-year basis to +47% vs. Q2/Q1’s +30%/+19%. This is consistent with 3P commentary indicating improved ROI on driving higher advertising spending.

The firm increased its 2026 and 2027 forecasts for logged-in daily active users, revenue, and EBITDA, with 2027 projections now 3%, 12%, and 23% higher. It also anticipates potential upside from large language model (LLM) revenue, giving reference to Anthropic’s recent copyright settlement. However, this is not incorporated into current models.

Reddit, Inc. (NYSE:RDDT) is a social media platform that leverages AI to strengthen search functionality and improve user engagement.

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