A slate of major Wall Street firms has begun coverage of Reddit – and some of them see the stock's gains moderating from here.
He rated the company neutral and gave it a price target of $47, anticipating 11% upside from Friday.
Sheridan's 12-month price target of $40 was one of the lowest on Wall Street and implies that shares could slide 5% from here.
Morgan Stanley had a slightly more optimistic price target of $45, corresponding to a roughly 6.5% gain.
Citi analyst Ronald Josey's price target of $53 — which forecasts 25% upside — is among one of the highest on the Street.
Persons:
Reddit, Doug Anmuth, JPMorgan's Anmuth, Goldman Sachs, Morgan Stanley, Goldman, Eric Sheridan, Brian Nowak, Ronald, Josey, Benjamin Black
Organizations:
Bank of America, Citi, Deutsche Bank