10 Jim Cramer Stocks with Huge Upside Potential

2. Reddit, Inc. (NYSE:RDDT)

Average Price Target Upside: 48.52%

Number of Hedge Fund Holders: 87

On April 24, when a caller asked about Reddit, Inc. (NYSE:RDDT), Cramer said:

“Well… Oh man, Reddit. I think Reddit is a very good stock. It came down way too much because there were, it was a short squeeze, and then it evaporated. But I think management, Huff’s (CEO Steve Huffman) doing a great job. I would be a buyer.”

Reddit (NYSE:RDDT) operates a popular platform where people post content, join conversations, and participate in topic-focused communities. On May 5, Seaport Research raised its rating on RDDT stock to Buy from Neutral and set a price target of $165.

The analyst noted that Reddit (NYSE:RDDT) posted strong Q1 revenue and EBITDA. Shares dropped after Q2 user growth slowed due to changes in Google search. The firm sees the Google impact as a short-term issue. It still expects steady user growth over time and sees potential for strong gains in revenue and monetization.