Reddit Inc. shares traded higher on Monday, continuing a multi-month rally fueled by rising user adoption and investor enthusiasm, according to Benzinga. According to Similarweb, Reddit’s app downloads surged 77.98% in April and an additional 47.92% in May, following a year of stagnant growth. The stock has climbed over 127% in the past year, gaining 44% over the last three months and 34% in the last month. Its market cap now stands at roughly $26.4 billion. Analysts see further upside, with Citigroup and Guggenheim maintaining bullish targets of $163 and $165, respectively. Reddit has recently reaffirmed its plans to expand ad offerings and improve personalization tools, capitalizing on user momentum.
