[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5400 followers Created: 2025-07-22 01:44:24 UTC $RDDT Attached is page X of a 14-page Citizens analyst report on RDDT issued yesterday entitled: "We Analyze Signs that User Growth Is More Stable While Advertising Still Has Multiple Tailwinds" Citizens has a 'Market Outperform' rating on RDDT with a $XXX price target. Citizens' 'Investment Highlights' regarding RDDT in the report includes the following: "We believe user growth is now more stable behind consistent visibility gains in Google and AI-powered search, including AI Overviews, as we believe Reddit's advertising momentum can help to drive upside in estimates and for shares to rerate. While we acknowledge the volatility of Google (GOOGL, MO, $XXX PT) search, we believe Google's rankings favor "experience, expertise, authoritativeness, and trustworthiness," or E-E-A-T content, with Reddit ranking highly across these criteria. To that end, Reddit's visibility across Google is now more stable even as AI results take a greater share of traffic. To that end, we believe Reddit's story can transition back to advertising gains as we believe Reddit continues to have strong momentum in the monetization of users. To that end, we reiterate our Market Outperform rating and $XXX price target. -- Valuation: Our unchanged price target of $XXX is ~15x 2026E EV/revenue on 2026E revenue of $2.4B (+26% Y/Y), which implies a 2026E EV/EBITDA multiple of 40x (unchanged). Shares last closed at $148.24, which implies Reddit trades for 11.4x our 2026E revenue and 32.8x our 2026E EBITDA. While this is a premium to other social media businesses, Reddit is growing significantly faster and has the potential to reach leading levels of profitability over time, in our view. -- Key risks to our investment thesis and valuation are: 1) Reddit does not utilize personally identifiable information (PII), limiting its access to certain advertising budgets; 2) Reddit has high revenue concentration among its largest advertisers; 3) Search changes represent potential volatility to Reddit traffic; 4) Video is early on Reddit and likely is a headwind to gross profit margins as it ramps; 5) A meaningful portion of time spent on Reddit is likely unmonetizable; 6) Regulations around usage of data for training LLMs may impact the opportunity for data licensing; and 7) Reddit may be a meme stock with high volatility." (Page X is not available here as X does not allow me to post pages from reports on this platform) XXX engagements  **Related Topics** [investment](/topic/investment) [$rddt](/topic/$rddt) [Post Link](https://x.com/CorleoneDon77/status/1947472767697490366)
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DonCorleone77 @CorleoneDon77 on x 5400 followers
Created: 2025-07-22 01:44:24 UTC
$RDDT
Attached is page X of a 14-page Citizens analyst report on RDDT issued yesterday entitled:
"We Analyze Signs that User Growth Is More Stable While Advertising Still Has Multiple Tailwinds"
Citizens has a 'Market Outperform' rating on RDDT with a $XXX price target.
Citizens' 'Investment Highlights' regarding RDDT in the report includes the following:
"We believe user growth is now more stable behind consistent visibility gains in Google and AI-powered search, including AI Overviews, as we believe Reddit's advertising momentum can help to drive upside in estimates and for shares to rerate.
While we acknowledge the volatility of Google (GOOGL, MO, $XXX PT) search, we believe Google's rankings favor "experience, expertise, authoritativeness, and trustworthiness," or E-E-A-T content, with Reddit ranking highly across these criteria.
To that end, Reddit's visibility across Google is now more stable even as AI results take a greater share of traffic. To that end, we believe Reddit's story can transition back to advertising gains as we believe Reddit continues to have strong momentum in the monetization of users. To that end, we reiterate our Market Outperform rating and $XXX price target.
-- Valuation:
Our unchanged price target of $XXX is ~15x 2026E EV/revenue on 2026E revenue of $2.4B (+26% Y/Y), which implies a 2026E EV/EBITDA multiple of 40x (unchanged). Shares last closed at $148.24, which implies Reddit trades for 11.4x our 2026E revenue and 32.8x our 2026E EBITDA.
While this is a premium to other social media businesses, Reddit is growing significantly faster and has the potential to reach leading levels of profitability over time, in our view.
-- Key risks to our investment thesis and valuation are:
- Reddit does not utilize personally identifiable information (PII), limiting its access to certain advertising budgets;
- Reddit has high revenue concentration among its largest advertisers;
- Search changes represent potential volatility to Reddit traffic;
- Video is early on Reddit and likely is a headwind to gross profit margins as it ramps;
- A meaningful portion of time spent on Reddit is likely unmonetizable;
- Regulations around usage of data for training LLMs may impact the opportunity for data licensing; and
- Reddit may be a meme stock with high volatility."
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
Related Topics investment $rddt