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via finance.yahoo.comMarkets

Evercore ISI downgrades Reddit to In Line, cuts target to $120 from $265

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Evercore ISI downgraded Reddit to In Line from Outperform on Friday and slashed its price target to $120 from $265 after the social media company reported third-quarter results that beat estimates but warned of declining traffic pressured by AI search summaries.…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishTraffic declines tied to AI search summaries weigh on monetization outlook.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Evercore ISI downgraded Reddit from Outperform to In Line.
  2. 02The price target falls from $265 to $120.
  3. 03U.S. daily active users declined 2% year over year.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Reddit, Inc.RDDTStock91.67 USDMarket closedtoday -29.27%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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