At the time of writing, Reddit Inc. [RDDT] stock is trading at $66.17, up 2.49%. 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 gain 11.98% over the last week, with a monthly amount glided 16.31%, 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 September 20, 2024, when B. Riley Securities initiated its Buy rating and assigned the stock a price target of $75. Previously, Loop Capital upgraded its rating to Buy on August 01, 2024, and kept the price target unchanged to $75. On July 26, 2024, ROTH MKM reiterated its Buy rating and revised its price target to $67 on the stock. Loop Capital downgraded its rating to a Hold but stick to its price target of $75 on July 16, 2024. Needham reiterated its recommendation of a Buy and raised its price target to $63 on May 08, 2024. Deutsche Bank started tracking with a Buy rating for this stock on April 16, 2024, and assigned it a price target of $50. In a note dated April 16, 2024, BofA Securities initiated an Neutral rating and provided a target price of $46 on this stock.
For the past year, the stock price of Reddit Inc. fluctuated between $37.35 and $78.08. Currently, Wall Street analysts expect the stock to reach $66.4 within the next 12 months. Reddit Inc. [NYSE: RDDT] shares were valued at $66.17 at the most recent close of the market. An investor can expect a potential return of 0.35% based on the average RDDT price forecast.
Analyzing the RDDT fundamentals
According to Reddit Inc. [NYSE:RDDT], the company’s sales were 981.40M for trailing twelve months, which represents an 53.63% jump. 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. 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 64.58 points at the first support level, and at 62.99 for the second support level. However, for the 1st resistance point, the stock is sitting at 67.35, and for the 2nd resistance point, it is at 68.53.
Ratios To Look Out For
It is important to note that Reddit Inc. [NYSE:RDDT] has a current ratio of 12.42. Also, the Quick Ratio is 12.42, while the Cash Ratio stands at 2.93. Considering the valuation of this stock, the price to sales ratio is 11.18, the price to book ratio is 5.79.
Transactions by insiders
Recent insider trading involved Vollero Andrew, Chief Financial Officer, that happened on Sep 19 ’24 when 68875.0 shares were sold. Chief Financial Officer, Vollero Andrew completed a deal on Sep 18 ’24 to sell 11287.0 shares. Meanwhile, Officer JENNIFER WONG bought 83333.0 shares on Sep 19 ’24.
