Reddit's shares surged over 7% to a record high following positive analyst predictions, with the price target raised to $200 due to anticipated international growth. The company's third-quarter sales rose significantly, driven by a rise in online advertising. Reddit aims to enhance its global reach, especially in rapidly growing user regions such as the U.K. and Brazil, leveraging AI for translation to optimize its platforms for diverse languages. COO Jen Wong emphasizes that their future growth lies beyond the U.S. market.
Reddit's fastest-growing regions in regards to users include the U.K., the Philippines, India and Brazil, which indicates future growth outside the U.S.
Raymond James analysts raised their price target for Reddit shares to $200, reflecting their belief in the company's potential for international expansion.
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