Reddit (RDDT) shares fell another 25% after its third-quarter report and are 63% below their January high, even though revenue grew 53% in the quarter. U.S. daily users fell 2% from a year earlier to 50.7 million, and the company said search referral traffic fell meaningfully in Q3. B. Riley cut its price target to $190 from $270 and kept its Buy rating, a target 95% above the current price. That target equals about 22x the $8.54 per share in earnings analysts expect over the next twelve months, though the article notes those estimates could come down given shrinking U.S. users and the Google data-licensing renewal due in the first quarter of 2027.
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