1228 ET - Similarweb data suggest Reddit is seeing more-than-expected active users and accelerating ad portal visits, which should drive higher revenue, say Oppenheimer analysts. Through investments in facilitating onboarding and better in-app searching, Reddit is doing a better job of converting visits to logged-in users, which is its primary driver of revenue. Third-party data suggest a 1.6 million net increase in logged-in daily active users for 3Q, 1.1 million above Wall Street's consensus. Data also show an acceleration of visits to Reddit's ad portal with improving return on investment driving higher ad spend. Oppenheimer raises its price target to $300 from $215. Reddit shares rise 0.5% to $264.97. (nicholas.miller@wsj.com)
(END) Dow Jones Newswires
September 16, 2025 12:28 ET (16:28 GMT)
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