Hey everyone, sharing this for anyone wanting to get up to speed on RDDT's history since it went public. The story is wilder than most people realize: a 48% first-day pop, a 52% crash from its February 2025 high, two AI data lawsuits (Anthropic and Perplexity), a $1B buyback, and multiple quarterly earnings that kept smashing expectations even as the stock cratered on Google algorithm scares. All news headlines here were collected and stored via an MCP server connected to a financial news database i built. Hope this helps anyone in this sub get up to speed with this beast of a company. February 20242024-02-22 | Reuters / WSJ | Reddit publicly files its S-1 IPO prospectus, targeting a NYSE listing under ticker RDDT. The filing reveals a $90.8M net loss on $804M in 2023 revenue (+21% YoY), and simultaneously discloses a content-licensing deal with Google worth roughly $60M/year to train Google's AI models, the first public signal that Reddit's data has real commercial value to the AI industry.2024-02-23 | Reuters | Reddit confirms it is targeting a valuation of up to $6.5B in the IPO, well below the $10B it had sought in its failed 2021 attempt. Sam Altman (OpenAI CEO) holds a 4.5% Class A stake; Tencent holds 6.4%.March 20242024-03-01 | WSJ / Bloomberg | Reddit sets a price range of $31-$34 per share, targeting up to $6.5B valuation, planning to sell 22 million shares and raise up to $748M. The company reserves 1.76M shares for early users and moderators to purchase at the IPO price.2024-03-07 | Financial Times | IPO roadshow confirmed to begin March 11, with pricing expected March 20; described as the most anticipated tech IPO of 2024 and the first major social media listing since Pinterest in 2019.2024-03-11 | Reuters | Reddit files a revised IPO application with the SEC; price range formally set at $31-$34/share.2024-03-15 | Reuters | Reddit discloses in an updated prospectus that the FTC is investigating the company's sale, licensing, and sharing of user-generated content with third parties to train AI models, adding a regulatory wrinkle ahead of the listing.2024-03-17 | Reuters | IPO reported to be 4-5x oversubscribed, putting the $6.5B valuation within reach.2024-03-19 | Street Insider | Reddit discloses in its prospectus that Nokia sent a letter on March 18 alleging Reddit infringes certain Nokia patents; Reddit says it will evaluate the claims.2024-03-20 | Bloomberg | Reddit prices its IPO at $34/share, the top of the $31-$34 range, valuing the company at approximately $6.5B.2024-03-21 | NYSE / Reuters | RDDT opens on the NYSE at $47/share (+38% vs IPO price) and closes at $50.44 (+48.4%) on debut day, the strongest social media IPO opening in years. OpenAI CEO Sam Altman's stake is worth over $600M after the first-day pop. ARK Invest (Cathie Wood) buys roughly 10,000 shares on day one.2024-03-22 | Reuters | RDDT pulls back roughly 2-3% on day two as some investors take profits off the prior session's surge.2024-03-25 | Reuters / Bloomberg | RDDT options begin trading and shares rally 30% intraday on bullish options flow, closing up nearly 30% to $59.80. ARK Invest continues adding shares.2024-03-26 | Various | RDDT extends the post-IPO run, up another 14% intraday; analysts describe it as an "institutional meme stock" with the stock having more than doubled from its IPO price within a week.2024-03-27 | Hedgeye / Reuters | Hedgeye publishes a bearish short report calling RDDT a "Fundamental Short, 50% downside." Simultaneously, SEC filings show major insider sales at the IPO: CEO Steve Huffman sold $16.2M, COO Jennifer Wong $16M, CTO Christopher Slowe $6M, CFO Drew Vollero $2M.2024-03-28 | Bernstein / Baird | RDDT falls 12% as the Hedgeye short report circulates. Bernstein initiates at Underperform ($40 PT), citing "too many questions beyond 2024," and Baird initiates at Neutral ($50 PT).2024-03-29 | Various | Stock continues retreating, giving back much of the post-IPO pop.April 20242024-04-04 | Bernstein / Baird | Bernstein formally writes up its Underperform at $40; Baird publishes its Neutral at $50. Cathie Wood says she is not buying RDDT at current prices but views it as a long-term AI play.2024-04-12 | Bloomberg | Reddit announces it will take questions from Reddit users in a dedicated subreddit for its May 7 earnings call, alongside the usual analyst Q&A.2024-04-15 | Multiple | First wave of broadly bullish analyst initiations: Loop Capital Buy ($60 PT), Piper Sandler Overweight ($50 PT), Roth MKM Buy.May 20242024-05-07 | Reddit IR | Q1 2024 earnings, the first-ever as a public company: Revenue $243M vs $212M est (+48% YoY); DAUq 82.7M vs 76M est (+37% YoY); Q2 guidance $240-255M vs $221M est; first EBITDA-positive Q1 in company history. Stock surges 15-19% after-hours.2024-05-08 | CNBC / Reuters | Analysts raise targets: Citi to $65, Piper to $65, JMP to $63, Deutsche Bank to $62, Goldman to $55. Roth MKM's Rohit Kulkarni: "They're on their way to profitability much sooner than expected."2024-05-13 | Reuters | RDDT +15% as meme stock mania returns: Keith Gill ("Roaring Kitty") reappears on Reddit after three years, posting a large GameStop position and sparking retail speculation that lifts RDDT as a platform beneficiary.2024-05-16 | Bloomberg / Reuters | Reddit and OpenAI announce a formal data partnership: OpenAI gets access to Reddit content to train AI models; Reddit gains OpenAI as an advertiser and access to AI-powered features. Shares jump 10% after-hours and close up 14-15% the following session.2024-05-17 | Reuters | Citi raises PT to $70; JMP says Reddit's data licensing business could become a $500M revenue line.2024-05-20 | SEC Filing | Reddit files for a 1.93M share offering by selling stockholders shortly after the OpenAI deal.June 20242024-06-03 | WSJ / Reuters | Keith Gill returns to Reddit posting a screenshot of a $116M+ GameStop position; RDDT rallies roughly 5% on the back of heightened platform engagement from the meme-stock frenzy.2024-06-18 | Needham | Needham raises PT from $63 to $75, citing core advertising fundamentals tracking ahead of prior estimates.2024-06-25 | Reddit Blog | Reddit updates its robots.txt exclusion protocol, blocking unknown bots and crawlers from accessing posts and comments without commercial agreements, while keeping access open for researchers and the Internet Archive. The move is a direct effort to protect the commercial value of Reddit's corpus for AI licensing deals.July 20242024-07-03 | Loop Capital | Loop Capital raises PT from $60 to $75, Buy maintained.2024-07-16 | Loop Capital | Loop Capital downgrades RDDT from Buy to Hold at $75, citing valuation after the post-IPO run. JMP raises PT from $70 to $84, keeping Outperform.2024-07-22 | Bloomberg / The Information | Reddit announces content partnerships with the NFL, NBA, MLB, PGA Tour, and NASCAR to bring sports video to the platform and attract advertisers. Stock rises roughly 5%.2024-07-31 | Raymond James | Raymond James raises PT from $65 to $70.August 20242024-08-01 | Loop Capital | Loop Capital reverses its July downgrade, upgrading RDDT back to Buy at $75, calling the IPO lock-up expiry a now-cleared overhang ahead of Q2 earnings.2024-08-02 | Reddit IR | Reddit acquires Memorable AI, a generative AI startup that helps marketers build better-performing ads. The purchase consideration was $19.9M, primarily cash. Reddit's first acquisition as a public company.2024-08-05 | LightShed Partners | LightShed initiates RDDT at Buy with a $48 PT.2024-08-06 | Reddit IR | Q2 2024 earnings: Revenue $281.2M vs $254M est (+54% YoY); DAUq 91.2M vs 84M est (+51% YoY); Ad revenue $253.1M (+41% YoY); Other revenue (data licensing) $28.1M (+691% YoY); Q3 guidance $290-310M vs $279M est. Cannonball Research initiates at Buy. Stock trades mixed on the print despite the beat, as IPO lock-up expiry concerns weigh on shares.September 20242024-09-17 | Reddit | Reddit blocks unauthenticated bots and crawlers from accessing posts and comments without commercial data agreements, while keeping non-commercial research access open. This formalizes Reddit's data access policy ahead of AI licensing renewal negotiations.2024-09-19 | B. Riley | B. Riley initiates RDDT at Buy with a $75 PT.2024-09-25 | Reddit Blog / Bloomberg | Reddit announces it is extending AI-powered machine translation to 35 additional countries including Brazil, Spain, and others, a push to grow international DAUs and eventually close the ARPU gap between US and non-US users.2024-09-25 | Various | Reddit hires a former Google ad executive to lead a small-business advertiser push.October 20242024-10-09 | Jefferies | Jefferies initiates at Buy with a $90 PT, projecting Reddit's EBITDA to more than double in two years and calling out the gap between Reddit's monetization and peers.2024-10-22 | Jefferies | Jefferies raises PT from $90 to $100, Buy maintained.2024-10-24 | Bloomberg Interview | CEO Steve Huffman tells Bloomberg that Reddit is in an "arms race" for AI training data and calls the platform's content "a gold mine for AI."2024-10-29 | Reddit IR | Q3 2024 earnings, Reddit's first-ever GAAP-profitable quarter: Revenue $348.4M vs $312.8M est (+68% YoY); Net Income $29.9M; Adj EBITDA $94.1M vs $58.9M est (+229% YoY); Q4 guidance $385-400M vs $356M est. Sam Altman's Reddit stake crosses $1B in after-hours trading. RDDT closes up 42% the following day to $116, the best single-session gain since IPO.2024-10-30 | Multiple | Analyst target increases: Citi to $120, JMP to $118, JPMorgan to $110, Goldman to $105, Roth MKM to $116, Piper Sandler to $115.November 20242024-11-01 | Reddit SEC Filing | Reddit discloses it sold the majority of its cryptocurrency portfolio (primarily Bitcoin and Ethereum) during Q3 2024, missing October's historic crypto rally. The net carrying value of holdings after the sales was negligible.2024-11-19 | Piper Sandler | Piper Sandler raises PT from $115 to $150, Overweight maintained.2024-11-20-21 | Downdetector | Reddit experiences two consecutive widespread outages affecting tens of thousands of US users; the platform recovers within hours each time.2024-11-22 | Bloomberg | Advance Magazine Publishers (Newhouse family) seeks to establish a $1.2B credit facility using roughly 7.8M Reddit shares as collateral. Tencent simultaneously discloses selling roughly 1.5M Reddit shares in the open market at about $134/share. RDDT drops 7% on the dual selling news.2024-11-27 | CNBC | Reddit COO Jen Wong tells CNBC the company is targeting India, Brazil, UK, and the Philippines as its next major international growth markets.December 20242024-12-09 | Morgan Stanley / Wells Fargo / Bloomberg | Morgan Stanley upgrades RDDT to Overweight from Equal Weight, raising PT from $70 to $200. Wells Fargo simultaneously initiates at Overweight ($206 PT). On the same day, Reddit launches "Reddit Answers," an AI-powered conversational chatbot for US users that surfaces synthesized answers from Reddit content, putting it in direct competition with Perplexity and AI search products. RDDT +4.5%.2024-12-11 | Needham | Needham raises PT from $120 to $190.2024-12-12 | Texas AG | Texas Attorney General Ken Paxton opens a privacy investigation into Reddit (along with other platforms) focused on how the platform handles minors' data.2024-12-20 | Guggenheim / Citi | Guggenheim initiates at Buy ($210 PT), calling Reddit "an industry revenue growth leader." Citi raises PT from $120 to $200, citing strong advertiser check-ins and continued engagement momentum.2024-12-31 | Various | RDDT closes 2024 well above its $34 IPO price, having turned GAAP-profitable in Q3 and secured multiple AI data-licensing deals. Ends the year as one of the stronger IPO performers of the class.January 20252025-01-07 | Reddit Blog | Reddit introduces AMA ad formats and new community trends tools for businesses to tap into conversation data for advertising.2025-01-14 | Piper Sandler / Goldman Sachs | Piper Sandler names RDDT its "Best Idea" in the SMID ad space, raising PT to $197. Goldman raises PT to $176.2025-01-17 | US Supreme Court | The Supreme Court unanimously upholds the TikTok ban law. Shares of RDDT and other social platforms move higher on speculation about potential traffic and advertiser migration if TikTok exits US app stores.2025-01-21 | Raymond James | Raymond James raises PT from $150 to $200, Strong Buy maintained. RDDT jumps 8.4%.2025-01-22 | Roth MKM | Roth MKM downgrades RDDT from Buy to Neutral (PT raised to $195) on valuation alone, with the stock trading near all-time highs around $230.2025-01-27 | SEC Filing | Reddit CTO Christopher Slowe sells 14,000 shares; RDDT falls 6.5% premarket on the insider sale and analyst notes cautioning about 2026 growth deceleration.2025-01-29 | Piper Sandler / Reuters | Reddit launches Meta Ad Import, letting advertisers port campaigns directly from Meta Ads Manager into Reddit. RDDT +3.3%.February 20252025-02-12 | Reddit IR | Q4 2024 earnings: Revenue $427.7M vs $405.3M est (+71% YoY); EPS $0.36 vs $0.25 est; Adj EBITDA $154.3M vs $128.7M est; DAUq 101.7M vs 103.2M est (a user miss). CEO Huffman attributes the miss to a Google search algorithm change that reduced Reddit traffic, calling it a "curveball"; Q1 2025 guidance $360-370M. Stock plunges 13-15% after-hours. Reddit crossed $1B in annual revenue for the first time in 2024.2025-02-13 | Reuters | Reddit announces a partnership with Intercontinental Exchange (ICE) to build financial analytics products using Reddit's user conversation data.2025-02-13 | SEC Filing | CEO Steve Huffman is disclosed to have sold $70.5M in Reddit shares near the February all-time high, the largest single executive sale since IPO.2025-02-15 | Reuters | CEO Steve Huffman publicly hints that some subreddits may be paywalled in the future as Reddit explores revenue streams beyond advertising and data licensing.2025-02-21 | Reuters | RDDT has now fallen nearly 20% since Q4 earnings as investors digest the Google algorithm hit; the start of a sharper multi-month drawdown.March 20252025-03-03 | Reuters / UK ICO | Reddit co-founder Alexis Ohanian joins Frank McCourt's Project Liberty bid to acquire TikTok US, proposing to put the platform on a blockchain protocol (Frequency) to give users data ownership. The UK Information Commissioner's Office opens a separate investigation into how TikTok, Reddit, and Imgur protect children's privacy.2025-03-05 | Reuters | Ohanian also teams up with former business rival Kevin Rose to relaunch Digg, once dubbed "the homepage of the internet."2025-03-06 | Reddit Blog | Reddit launches new content moderation tools including Rules Check, Post Recovery, and Community Suggestions, alongside improved post analytics, in a bid to re-engage content creators amid the growth slowdown.2025-03-10 | Reuters | RDDT falls 20.5% in a single session, its worst single-day drop since IPO, closing roughly 52% below the February 10 all-time high near $230.2025-03-17 | Redburn Atlantic / Reuters | Redburn Atlantic initiates at Sell with a $75 PT, calling Reddit's valuation "significantly premium to peers and unsustainable." On the same day, Google expands its partnership with Reddit to include Vertex AI for Reddit Search, providing some positive offset to the coverage initiation.2025-03-18 | Various | RDDT falls another 12% on the Redburn Sell note before staging a 14% recovery session on March 19.April 20252025-04-07 | Truist | Truist initiates RDDT at Buy with a $150 PT, calling Reddit "the leading social media forum for open and in-depth exchange of information."2025-04-14-16 | Various | With RDDT down 50-57% from its February high, multiple analysts publish buy-the-dip notes citing 71% YoY revenue growth and expanding international users. Oppenheimer initiates Outperform on April 16.May 20252025-05-01 | Reddit IR | Q1 2025 earnings: Revenue $392.4M vs $370M est (+61% YoY); EPS $0.13 vs $0.02 est; DAUq 108.1M vs 107.5M est (+31% YoY); Q2 guidance $410-430M vs $393M est. US Revenue +57%, International Revenue +82%. COO Jen Wong notes April DAUs are growing in the high-teens YoY despite Google search "under heavy construction." Stock +6% after-hours.2025-05-05 | Seaport Research | Seaport upgrades RDDT from Neutral to Buy at $165.2025-05-14 | Bloomberg | Reddit co-founder Alexis Ohanian acquires a minority stake in Chelsea FC Women.2025-05-15 | 13F SEC Filing | Tiger Global Management raises its Reddit stake 60% to 3.2M Class A shares in its most recent 13F filing.2025-05-19 | Wells Fargo | Wells Fargo downgrades RDDT from Overweight to Equal Weight, cutting PT from $168 to $115, calling the Google search algorithm changes "likely permanent" and warning that logged-out user declines may be structural.2025-05-28 | Russell Indexes | RDDT confirmed as an addition to the Russell 3000 Index, triggering passive index-buying.June 20252025-06-04 | Reuters / CNBC | Reddit files a lawsuit against Anthropic in federal court, alleging Anthropic scraped and used Reddit's copyrighted content to train AI models without authorization, despite public assurances it would not. Reddit had filed a similar suit against Perplexity the prior October.2025-06-16 | Semrush / Reuters | Data shows Reddit is the second-most-cited site in Google's AI Overviews (behind Quora), benefiting from the $60M Google licensing deal and content integration.2025-06-17 | Reddit IR / Reuters | Reddit launches two new AI-powered advertising features: "Reddit Insights powered by Community Intelligence," which helps brands use community discussions for targeting. Stock extends gains on the product news.2025-06-19 | Semafor | Reddit reported to be in early talks with WorldCoin about integrating iris-scanning Orb technology for user verification.2025-06-25 | Cleveland Research | Cleveland Research initiates RDDT at Buy with a $166 PT, citing new product traction and no evidence of ad deterioration from Google AI Overviews.July 20252025-07-16 | Downdetector | Reddit experiences a widespread outage affecting thousands of US users.2025-07-21 | SEC Filing | COO Jennifer Wong sells $4.7M in Class A shares at prices between $139-$145.90.2025-07-28 | Raymond James | Raymond James raises PT from $150 to $175.2025-07-31 | Reddit IR | Q2 2025 earnings: Revenue $499.6M vs $427M est (+78% YoY); EPS $0.45 vs $0.20 est; DAUq 110.4M +21% YoY; Q3 guidance $535-545M vs $473M est. Reddit Answers grows from 1M to 6M users in a single quarter. Data licensing revenue reaches roughly $35M. Reddit is cited as the top domain for AI model training content. Stock surges 15-17% after-hours.August 20252025-08-01 | Multiple | Post-earnings analyst revisions: Morgan Stanley raises PT to $230 (from $170); Truist to $225 (from $160); Citizens JMP to $225; Needham to $215. RDDT opens up 14-16% on strong volume.2025-08-14 | 13F SEC Filing | Tiger Global's Q2 13F shows a major addition to its Reddit position.2025-08-18 | Argus Research | Argus initiates RDDT at Buy.September 20252025-09-15 | Downdetector | Reddit experiences an outage affecting roughly 10,000 US users.2025-09-17 | Bloomberg | Reddit and Google enter early talks for a new AI content agreement. Unlike the original ~$60M/year deal, Reddit is pushing for dynamic pricing tied to how essential its data becomes for AI models.2025-09-18 | Piper Sandler / Citizens JMP | Piper raises PT from $210 to $290; Citizens raises PT from $225 to $300.2025-09-25 | Baird | Baird raises PT from $177 to $240.October 20252025-10-01 | Various / SimilarWeb / RBC Capital | RDDT falls 11.7% premarket on reports that the share of Reddit pages cited in ChatGPT responses has dropped sharply since September 11. SimilarWeb data shows declining 30-day average DAUs. RBC Capital confirms the trend is "consistent with our survey" and maintains Sector Perform. Stock closes down roughly 10-12% on the day.2025-10-02 | Analysts | Reddit management notes that Google AI Mode (expanded to 180 countries in August) may offset the ChatGPT citation losses, and early talks with Google on a new data agreement are in progress. RDDT falls for a second consecutive day, down roughly 14% over five sessions.2025-10-07 | Wells Fargo | Wells Fargo raises PT from $155 to $174, Cautious rating maintained.2025-10-15 | Goldman Sachs / Truist | Goldman raises PT to $236; Truist raises to $260.2025-10-22 | SDNY Federal Court | Reddit files a copyright suit against Perplexity AI and three related companies in New York federal court, alleging unlawful scraping of Reddit content to train Perplexity's AI search product.2025-10-23 | Citi | Citi maintains Buy and opens a 90-day upside catalyst watch ahead of Q3 earnings.2025-10-24 | Bloomberg Interview | CEO Steve Huffman says Reddit is in an "arms race" for AI training data and calls the platform's content "a gold mine for AI."2025-10-30 | Reddit IR | Q3 2025 earnings: Revenue $585M vs $548.9M est (+68% YoY); EPS $0.80 vs $0.51 est; Adj EBITDA $236M vs $195.6M est; DAUq 116M vs 114.2M est (+19% YoY); Q4 guidance $655-665M vs $634M est. Jefferies calls it "Scary Good Growth." Stock surges 12-13% after-hours.November 20252025-11-04 | Australian Internet Watchdog | Australia widens its under-16 social media ban to include Reddit and streaming platform Kick, the first time Reddit faces a government-mandated access restriction at the country level.2025-11-14 | 13F SEC Filings | Bridgewater Associates opens a new position in Reddit; Tiger Global cuts its stake. Both reflect diverging institutional views on the growth trajectory.2025-11-19 | Truist | Truist reiterates Buy at $270 following investor conversations, citing advertiser momentum and data licensing expansion.2025-12-10 | Reddit Blog | Reddit begins testing Verified Profiles, a new transparency feature aimed at building trust for brands and public figures on the platform.2025-12-11 | Australian Federal Court | Reddit files a lawsuit in Australia's Federal Court challenging its inclusion in the under-16 social media ban, arguing the law is disproportionate and limits teen access to political discussion.2025-12-11 | Jefferies / Needham | Jefferies raises PT from $300 to $325; Needham names RDDT a "Top Pick" and adds it to its Conviction Buy list.2025-12-20 | Truist | Truist flags Reddit's two primary AI licensing deals (Google and OpenAI) as the core near-term optionality, with potential for additional agreements and repricing as AI training demand grows into 2027.January 20262026-01-08 | Cantor Fitzgerald | Cantor Fitzgerald initiates at Neutral.2026-01-09 | Argus Research | Argus raises PT from $250 to $300, Buy maintained.2026-01-12 | Wells Fargo | Wells Fargo raises PT from $186 to $207.2026-01-13 | Evercore ISI | Evercore ISI initiates at Outperform; stock up on the coverage.2026-01-20 | Deutsche Bank | Deutsche Bank raises PT from $255 to $285, Buy maintained.February 20262026-02-06 | Reddit IR | Q4 2025 earnings: Revenue $726M vs $667M est (+70% YoY); EPS $1.24 vs $0.93 est; DAUq 121.4M vs 120.2M est (+19% YoY); ARPU $5.98 vs $5.56 est (+42% YoY); Adj EBITDA $327M vs $286M est; Q1 2026 guidance $595-605M vs $577M est. Reddit simultaneously announces a $1B share buyback, its first. Multiple analyst PTs are revised; Goldman lowers slightly to $206 (Neutral) while Evercore, Morgan Stanley, and others keep Buy-equivalent ratings.2026-02-19 | Reddit Blog | Reddit begins testing a shopping product experience integrated into Search, the first commerce-focused feature following the Shopify partnership discussed on the Q1 2026 earnings call.2026-02-24 | UK ICO / Reuters | The UK Information Commissioner's Office fines Reddit 14.47 million pounds (roughly $19.52M) for failures to protect children's privacy, Reddit's first meaningful regulatory penalty in a Western market.March 20262026-03-18 | Reddit IR | Reddit announces a new advertising partnership with Pacvue to improve advertiser automation and campaign management on the platform.2026-03-28 | Multiple Analysts | With RDDT down roughly 40% from the February high on macro and tariff-driven selling, multiple buy notes go out citing the stock trading at roughly 18-19x forward EV/EBITDA against a 69% revenue growth backdrop, $2.5B+ in cash, and no meaningful debt.April 20262026-04-16 | Piper Sandler | Piper publishes monthly user checks: March DAUs slipped 0.5% MoM but Q1 as a whole is tracking roughly 140bps above Street DAU expectations; April MTD users up about 1.5%.2026-04-21 | Multiple | Wave of analyst initiations: DA Davidson starts at Buy ($200 PT), calling Reddit "incredibly under-monetized vs. peers"; HSBC initiates Buy; Roth Capital initiates Buy; Citigroup maintains Buy. Jefferies downgrades from Buy to Hold on valuation.2026-04-27 | Redburn / Rothschild | Redburn lowers PT from $125 to $110, Sell maintained.2026-04-30 | Reddit IR | Q1 2026 earnings: Revenue $663M vs $609M est (+69% YoY); EPS $1.01 vs $0.56 est (beat by $0.45); Adj EBITDA $266M vs $221M est; DAUq 126.8M vs 121.1M est (+17% YoY); ARPU $5.23 +44% YoY; Q2 2026 guidance $715-725M vs $712M est; content licensing revenue $39M +15% YoY; operating cash flow up 144% YoY; cash and marketable securities total $2.76B with no meaningful debt. CEO notes roughly 40% of Reddit conversations are now commercial in nature. Stock surges 14-16% after-hours.May 20262026-05-01 | Multiple | Post-earnings analyst revisions: Goldman raises PT from $180 to $200 (Neutral); Truist raises from $250 to $265 (Buy); Oppenheimer lowers from $250 to $225 (Outperform); Raymond James raises from $170 to $180; Wells Fargo raises from $149 to $176.2026-05-15 | 13F SEC Filing | Viking Global takes a new $344M position in RDDT as part of its Q1 2026 13F.2026-05-19 | Reuters | With RDDT down roughly 30-40% YTD despite the earnings beat, macro and tariff-driven risk-off selling continues to weigh on high-multiple growth names.2026-05-22 | Reuters / CNBC | Meta launches "Forum," a standalone iOS app built around Facebook Groups designed to compete with Reddit's community discussion format. RDDT falls 6%, now down roughly 40% YTD. Truist notes the risk is less about core Reddit users leaving and more about casual logged-out users shifting habits over time.June 20262026-06-04 | BofA Global Tech Conference / Loop Capital | Reddit management presents at the Bank of America 2026 Global Technology Conference; Loop Capital maintains Buy. Q1 metrics put RDDT's gross margin at 91.5% and free cash flow at $311M.2026-06-08 | BofA | BofA maintains Neutral at $190, noting Reddit's ownership of human conversation data is being tested as AI search evolves and the 2027 contract renewals with Google and OpenAI approach.2026-06-11 | Analyst Reports | Coverage notes highlight RDDT's post-IPO track record: 69% revenue growth, 40% EBITDA margin, and 47% FCF margin, with US ARPU +61% YoY, nearly double Meta's ARPU growth rate over the same period.2026-06-14 | Reuters / Analysts | Multiple analysts argue Reddit is fundamentally misclassified as a social media company; with roughly 60% of queries carrying commercial intent (per Kantar data), the platform's ad economics look closer to a performance advertising platform than a traditional social network.2026-06-25 | Needham / Reuters | Needham analyst Laura Martin maintains Buy at $300 after meetings with CEO Steve Huffman and COO Jen Wong at Cannes Lions, stating Reddit may have more pricing power over its AI data than the market has priced in, with the 2027 Google and OpenAI contract renewals as the key near-term catalyst. via /r/redditstock https://ift.tt/4U71sfS
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