10 Stocks Lead Friday’s Charge

7. Reddit Inc. (NYSE:RDDT)

Reddit shares rose by 6.39 percent on Friday to finish at $115.7 each as investors cheered news of a positive rating and outlook for the company.

On Friday, analysts from Needham maintained their buy rating and $220 price target for RDDT despite the stock’s significant decline in the prior trading day following comments from Redburn analysts saying that its sustainability is a “gift” from Google.

Google made changes to its algorithm that led RDDT to nearly double its size in the past 18 months. However, Redburn believed that most of its users looking for answers to specific questions do not convert to RDDT log-in users, who are ultimately much more valuable.

“There is clear evidence that the boost to traffic and visibility from these changes is hitting a ceiling,” the analysts said, adding that “what Google giveth, it will taketh away.”