Reddit Inc. [RDDT] stock is trading at $58.26, down -1.60%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The RDDT shares have gain 7.17% over the last week, with a monthly amount drifted -6.57%, and not 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 August 01, 2024, when Loop Capital upgraded its rating to a Buy but kept the price target unchanged to $75 for it. Previously, ROTH MKM reaffirmed its Buy rating on July 26, 2024, and elevated its price target to $67. On July 16, 2024, downgrade downgraded it’s rating to Hold but maintained its price target of $75 on the stock. Needham reiterated its Buy rating and increased its price target to $63 on May 08, 2024. Deutsche Bank initiated its recommendation with a Buy and recommended $50 as its price target on April 16, 2024. BofA Securities started tracking with a Neutral rating for this stock on April 16, 2024, and assigned it a price target of $46. In a note dated April 15, 2024, ROTH MKM initiated an Buy rating and provided a target price of $50 on this stock.
Reddit Inc. [RDDT] stock has fluctuated between $37.35 and $78.08 over the past year. Currently, Wall Street analysts expect the stock to reach $65.43 within the next 12 months. Reddit Inc. [NYSE: RDDT] shares were valued at $58.26 at the most recent close of the market. An investor can expect a potential return of 12.31% based on the average RDDT price forecast.
Analyzing the RDDT fundamentals
Reddit Inc. [NYSE:RDDT] reported sales of 981.40M for the trailing twelve months, which represents a growth of 53.63%. Gross Profit Margin for this corporation currently stands at 0.88% with Operating Profit Margin at -0.65%, Pretax Profit Margin comes in at -0.58%, and Net Profit Margin reading is -0.58%. To continue investigating profitability, this company’s Return on Assets is posted at -0.28, Equity is -0.35 and Total Capital is -0.33. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.01.
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 57.19 points at the first support level, and at 56.11 for the second support level. However, for the 1st resistance point, the stock is sitting at 59.66, and for the 2nd resistance point, it is at 61.05.
Ratios To Look Out For
For context, Reddit Inc.’s Current Ratio is 12.42. Further, the Quick Ratio stands at 12.42, while the Cash Ratio is 2.93. Considering the valuation of this stock, the price to sales ratio is 9.85, the price to book ratio is 5.10.
Transactions by insiders
Recent insider trading involved Slowe Christopher Brian, Chief Technology Officer, that happened on Aug 20 ’24 when 21000.0 shares were sold. Chief Technology Officer, Slowe Christopher Brian completed a deal on Aug 20 ’24 to sell 5000.0 shares. Meanwhile, Chief Operating Officer Wong Jennifer L. sold 33333.0 shares on Aug 20 ’24.
