Top 10 AI Stocks News: Latest Analyst Ratings And Upgrades

3. Reddit Inc. (NYSE:RDDT)

Number of Hedge Fund Holders: 52

Reddit Inc. (NYSE:RDDT) is a social news aggregation, content rating, and forum social network that gained massive popularity in the new decade, prompting the company to go public in early 2024. The social media firm has data-licensing deals with both OpenAI and Google, where companies pay Reddit Inc. (NYSE:RDDT) for access to its data they use to enhance respective AI models. The social media platform is testing and implementing several AI-powered features, including the new AI Answers feature built on the firm’s existing search architecture to help users swiftly find answers sourced from posts across subreds.

On January 27th, JMP Securities increased Reddit Inc.’s (NYSE:RDDT) price target to $190 from $160 and maintained an “Outperform” stock rating. The brokerage is “broadly positive” about the company’s Q4 digital advertising earnings based on expectations that the advertising environment is healthy due to positive consumer spending over the holiday period, the contribution of political ad spend, and improved business sentiment. Meanwhile, the uncertainty around and disruption to TikTok also likely aided the coverage universe. Analysts expect operational momentum to continue for the social media platform.