On September 17, DA Davidson lowered its price target on Reddit, Inc. (NYSE:RDDT) from $200 to $185 and maintained its Buy rating. The firm pointed to near-term risks to the company's daily active user growth and cited Similarweb data showing continued pressure on global daily active users. According to DA Davidson, the latest web traffic trends indicate that global daily active users could come in below consensus estimates.DA Davidson Cuts Reddit (RDDT) PT on User Growth Concerns, But Financials Remain Strong brett-jordan-0FytazjHhxs-unsplash The firm expects September traffic trends to remain challenging, based on Reddit, Inc.'s (NYSE:RDDT) historical patterns during the month.
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