Reddit surges after strong Q4 forecast; brokerages raise PT

Shares of social media platform Reddit RDDT.N rise 10.1% to $214.25 premarket

Co forecasts Q4 rev above Wall Street estimates

At least six brokerages raise PT on the stock

RDDT COO says ad business is pulling diverse clients; active advertiser base lifted by more than 75% in Q3

"We continue to expect Reddit to materially outperform expectations near term" - brokerage Citizens

Bernstein says it expects data licensing renegotiations to come into effect in 2026

Avg. rating of 28 analysts is "buy," their median PT is $245 - data compiled by LSEG

Up to last close, stock has risen ~19% this year