What Do Analysts Think About Reddit (RDDT)?

Reddit, Inc. (NYSE:RDDT) is one of the best hot large cap stocks to buy according to hedge funds. In a report released on August 22, Brad Erickson from RBC Capital maintained a Hold rating on Reddit, Inc. (NYSE:RDDT) with a price target of $210.00.

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Similarly, Argus Research initiated coverage of Reddit, Inc. (NYSE:RDDT) with a Buy rating on August 18, setting a price target of $250.00.

The firm told investors in a research note that Reddit, Inc. (NYSE:RDDT) boasts an impressive growth record, with its recent results trending positively.

It added that while the stock is not cheap, its growth runway is promising, and that justifies the premium.

Reddit, Inc. (NYSE:RDDT) operates a social networking, entertainment, and news website that allows registered community members to share and submit content.

While we acknowledge the potential of RDDT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RDDT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.