Reddit rises after strong Q1 revenue forecast

Shares of Reddit RDDT.N rise 7.4% premarket after co forecast Q1 revenue above estimates

Expects Q1 rev between $595 million and $605 million, above analysts' average estimate of $577.2 million, according to data compiled by LSEG

Q4 rev rose 70% to $726 million, beating estimates of $665.4 million
Co also announces its maiden share repurchase plan of up to $1 billion

Average rating of 29 analysts is 'buy'; median price target $250 - LSEG-compiled data

RDDT stock has sunk ~34% YTD, vs a 0.69% fall for the S&P 500 .SPX