RDDT → $186.00 by Dec 28, 2026.

Hi all, I wanted to share my detailed DCF analysis for Reddit. Our DCF derives an intrinsic equity value of **$186 per share**, representing 30% upside to Reddit’s market price of $143 as of 28 September 2026. This is based on: * Advertising revenue reaching $15.5bn by Year 10 (22% 10 yr CAGR), driven by monetization growth in US and user growth in International markets * GAAP operating margin of 37% from Year 6 onwards * ROIC in the high-40s …