Firms are staying bullish on ad-revenue growth and artificial intelligence (AI) initiatives
) with equivalent to “hold” ratings, as they wait for clarity on the social media company’s user growth, while staying bullish on ad-revenue growth and artificial intelligence initiatives.While Reddit , which made its market debut last month, still relies on advertising for the vast majority of its revenue, it touted AI in its initial public offering marketing roadshow as an area of growth.
“Valuation leaves us on sidelines as we wait for evidence of outsized user growth and faster execution,” said Morgan Stanley. Piper views Reddit as an “iconic internet asset,” while Roth said Reddit, which is regarded as the “front page of the Internet” deserved a premium valuation.
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