Reddit’s IPO is making waves among social media stocks as early investors massively oversubscribe to the listing, which is expected to post between $31 and $34 per share. While some may see Reddit as the next big social media stock, better options and alternatives are out there. Patent infringement news aside, the company has never turned a profit and hasn’t yet offered a clear path to profitability that makes the much-hyped IPO worth buying – if anything, the most that early investors can hope for is a brief short squeeze before reality sets in fully.

Still, social media stocks represent a wide swath of viable companies across many domains and are an increasingly large segment as we live our digital lives and spend increasingly more of our discretionary income on products or services brought to us through social media advertising. To that end, these seven social media stocks are far preferable to staking your cash on Reddit’s IPO.

IAC (IAC)

IAC Inc (NASDAQ:IAC) is as much a social media stock as a diversified media empire, owning either a stake or the entirety of brands, including Angi (formerly Angie’s List), Investopedia, The Daily Beast, and a slew of companies across cooking, travel, and similar segments.

Though the company’s fourth-quarter and end-of-year (EoY) report indicated slowing sales as revenue dipped 15%, management navigated cost-cutting initiatives well and improved its operating loss by 51%. Combined with a healthy profit following its MGM Resorts International (NYSE:MGM) investment, IAC posted a $3.70 earnings per share and widened its EBITDA 57% to $156.8 million – not too bad, considering many of its social media properties are firmly within the luxury segment that’s suffered amid slacking consumer sentiment!

Most notably, the company’s advertising revenue climbed 4% even as wider sales fell, reassuring investors after the third quarter’s 12% advertising revenue drop. The company also announced a buyback program and plans to purchase as many as 7.9 million shares in the near future.

Sprout Social (SPT)

While we usually run when Jim Cramer recommends a stock, his outlook on Sprout Social (NASDAQ:SPT) is sufficiently wishy-washy that it’s worth a second look. In an early-March Mad Money episode, Cramer said that, though Sprout is in a “hot spot, [but] not making money. And because the company’s not making money, I have said no. But that doesn’t mean I can be totally closed-minded because they’re supposed to have an earnings breakout.” Neither a ringing endorsement nor total condemnation, Cramer’s overall outlook is correct.

Though still unprofitable, the social media management company posted a strong fourth-quarter and EoY report that included $385 million in annual recurring revenue – gold for a service-based company like Sprout – and 34% revenue growth. By integrating social media marketing campaigns across many platforms into a single-source tool, Sprout is a relatively early adopter as it reports 90% of polled execs plan to use social media as a primary advertising channel but haven’t yet made the pivot. In fact, according to its same poll, Sprout reports that fewer than 5% of the same execs have adopted a social media management platform. That means Sprout is an easy inroad into the wider social media stock sphere, and if Cramer’s earnings breakout forecast remains valid, 2024 could be a big year for the company.

Rumble (RUM)

Rumble (NASDAQ:RUM) shares are on a run as it puts a tentative bid to buy TikTok – but even if that plan doesn’t come to fruition, the video-centric social media stock remains a top pick. The company has already proven itself adept at recognizing what users want, exemplified by its deal with Barstool Sports to offer “access to all Barstool Sports content […] including live streams.”

Though firmly within the small-cap camp, per-share pricing has more than doubled since January 1st. While the company has a reputation for primarily targeting right-of-center constituents, both the TikTok offer and Barstool integration point to a wider awareness that management must spread its wings to capture as broad an audience as possible. And, thus far, the move is paying off.

Rumble won’t release its next earnings report until next Wednesday, March 27th. Still, with as many bullish tailwinds brewing, expect even a modest outperformance to send shares soaring higher than we’re already seeing.

Match Group (MTCH)

Nearly 70% of Americans who met someone on a dating app said that it created a long-running romantic relationship, making the wider dating app scene an overlooked aspect of social media. But, in many cases, dating app stocks haven’t caught the same tailwind as big-name brands, considering their massive popularity. Within that segment, Match Group (NASDAQ:MTCH) reigns supreme as the leader. The company boasts ownership of the premier dating apps, including Tinder, which holds the top market share, and OKCupid, Plenty of Fish, and Hinge. Typically, a Match Group app is the first that comes to mind for many people thinking about dating app stocks, often being the preferred choice for users – even if they don’t explicitly associate the selection with Match.

Recently, MTCH’s stock has been under pressure due to post-pandemic challenges and economic uncertainty. However, the renowned activist investment firm Elliott Management is boosting its investment in the dating app conglomerate, which could energize MTCH’s recovery to its former prominence. With a $1 billion investment in Match Group, Elliott Management is expected to soon advocate for a seat on the board to enhance the company’s underperforming margins.

Sprinklr (CXM)

Sprinklr (NYSE:CXM), a social media SaaS company, specializes in customer relationships and content marketing, offering tools and applications that enable companies to effectively manage their brands and ad campaigns online.

For instance, on platforms like X, Sprinklr assists its clients in monitoring their brand presence, engaging with customer feedback, tracking relevant keywords, and more. It plays a crucial role in sentiment monitoring to help brands maintain their image across various platforms, ad campaigns, and communication channels. In this sense, Sprinklr serves as a solid pick alongside Sprout Social, capitalizing on many of the same early adopter trends without infringing on one another’s customer base.

Sprinklr’s subscription revenue has grown substantially, increasing from $139 million in the third quarter of 2022 to $170 million during the same period of 2023. Moreover, Sprinklr has achieved profitability, positioning it favorably among its competitors.

Looking ahead, Sprinklr is actively pursuing new clients, aiming to snag them from Hootsuite and similar competitors. Success in securing additional business will boost the company’s stock bottom line further, but, currently trading at 38x forward earnings, there’s still plenty of upside opportunity available.

Meta Platforms (META)

Though often criticized as a platform favored by Boomers, Meta Platforms (NASDAQ:META) is poised for substantial growth with Gen Z audiences. Despite TikTok grabbing the spotlight, Meta’s properties Facebook and Instagram remain undeniably dominant – and that’s before accounting for TikTok’s current regulatory concerns.

While Mark Zuckerberg’s vision for the metaverse has encountered some slowdowns, the inevitability of virtual reality becoming a standard aspect of future digital and social media interaction is clear. Immersive shopping experiences within a digital ecosystem are gaining traction. Although metaverse-style fashion shows and real estate ventures have decreased after initial interest—largely due to technological and accessibility hurdles—the demand within this market segment remains strong. Meta’s metaverse project is a potential behemoth, ready to dominate the emerging social media landscape.

Combine its forward-looking prospects with its current pool of more than 10 million active advertisers paying big bucks for a spot on your social media feed, and Meta is clearly one of the top social media stock picks for the foreseeable future.

Snap (SNAP)

Although Snap (NYSE:SNAP) faces competitive challenges as younger users gravitate towards newer apps, it isn’t yet down for the count and remains buoyed by its achievements in virtual and augmented reality alongside a growing advertising platform.

Snap has set its sights on exceeding 475 million daily active users in 2024, aiming higher than Wall Street’s forecasts. Its vast selection of augmented reality lenses, developed by over 350,000 AR creators and developers and totaling nearly 3.5 million lenses to date, further boosts the app’s attraction.

Moreover, Snap’s financial prospects in the short term appear strong, with advertising revenue projected to increase by more than 20% in 2024. This anticipated growth exceeds Wall Street’s predictions of 14%, aligning with Snap’s ambitious targets. For the upcoming quarter, Snap projects its revenue to range between $1,095 million and $1,135 million, representing a year-over-year increase of 11% to 15%. Given these positive indicators, SNAP stands out as a solid pick among social media stocks, particularly if you’re bullish on long-term augmented reality trends. It’s one of those social media stocks to consider.

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.