A share price of Reddit Inc. [RDDT] is currently trading at $62.95, down -7.21%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The RDDT shares have lost -3.47% over the last week, with a monthly amount glided 11.46%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Reddit Inc. [NYSE: RDDT] stock has seen the most recent analyst activity on July 16, 2024, when Loop Capital downgraded its rating to a Hold but kept the price target unchanged to $75 for it. Previously, Needham reaffirmed its Buy rating on May 08, 2024, and elevated its price target to $63. On April 16, 2024, Deutsche Bank initiated with a Buy rating and assigned a price target of $50 on the stock. BofA Securities started tracking the stock assigning a Neutral rating and suggested a price target of $46 on April 16, 2024. ROTH MKM initiated its recommendation with a Buy and recommended $50 as its price target on April 15, 2024. Raymond James started tracking with a Strong Buy rating for this stock on April 15, 2024, and assigned it a price target of $50. In a note dated April 15, 2024, Piper Sandler initiated an Overweight rating and provided a target price of $50 on this stock.
Reddit Inc. experienced fluctuations in its stock price throughout the past year between $37.35 and $78.08. Currently, Wall Street analysts expect the stock to reach $56.83 within the next 12 months. Reddit Inc. [NYSE: RDDT] shares were valued at $62.95 at the most recent close of the market. An investor can expect a potential drop of -9.72% based on the average RDDT price forecast.
Analyzing the RDDT fundamentals
Trailing Twelve Months sales for Reddit Inc. [NYSE:RDDT] were 883.25M which represents 48.38% growth. Gross Profit Margin for this corporation currently stands at 0.87% with Operating Profit Margin at -0.75%, Pretax Profit Margin comes in at -0.68%, and Net Profit Margin reading is -0.68%. To continue investigating profitability, this company’s Return on Assets is posted at -0.3, Equity is -0.39 and Total Capital is -0.35. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.01.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 61.32 points at the first support level, and at 59.69 for the second support level. However, for the 1st resistance point, the stock is sitting at 65.44, and for the 2nd resistance point, it is at 67.93.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Reddit Inc. [NYSE:RDDT] is 12.27. Also, the Quick Ratio is 12.27, while the Cash Ratio stands at 6.19. Considering the valuation of this stock, the price to sales ratio is 11.65, the price to book ratio is 5.59.
Transactions by insiders
Recent insider trading involved Vollero Andrew, Chief Financial Officer, that happened on May 23 ’24 when 50580.0 shares were sold. CEO & President, Huffman Steve Ladd completed a deal on May 23 ’24 to sell 42299.0 shares. Meanwhile, Chief Operating Officer Wong Jennifer L. sold 40139.0 shares on May 23 ’24.
