Q3 outlook
- Reddit sees third-quarter 2026 revenue between $860 million and $870 million.
- The company expects third-quarter 2026 adjusted EBITDA of $385 million to $395 million.
Capital returns and analyst view
- Reddit repurchased 1.5 million shares for $235 million during the quarter.
- The average analyst rating on the shares is buy.
- The recommendation breakdown is 21 strong buy or buy, 9 hold, and 1 sell or strong sell.
- Wall Street's median 12-month price target is $240.00, about 34.8% above the July 29 closing price of $177.99.
- The stock recently traded at 30 times the next 12-month earnings, versus a P/E of 30 three months ago.
Q2 results beat estimates as revenue growth slows
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