Reddit jumps as AI deals boost Q4 revenue forecast
** Reddit RDDT.N shares jump 22.96% to $100.51 premarket; set to open at all-time high since listing in March
** Co reported first quarterly profit in Q3 and forecast Q4 revenue above estimates
** AI content licensing deals with Google and OpenAI, strong digital advertising spending helped co to beat estimates
** RDDT expects Q4 revenue of $385 mln-$400 mln, vs estimates of $357.9 mln - LSEG
** Reports Q3 profit per share of 16 cents vs estimates of loss of 7 cents per share
** Piper Sandler raises PT to $115 from $70, Jefferies raises PT to $120 from $100
** "We continue to see upside to estimates driven by strong user growth, data licensing ramping, new ad products and industry-leading incremental margins" - Piper Sandler
** Stock rated "buy" on average; median PT $85
Reporting by Ragini Mathur
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