At the time of writing, Reddit Inc. [RDDT] stock is trading at $74.87, up 2.21%. 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 gain 6.29% over the last week, with a monthly amount glided 26.71%, 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 October 09, 2024, when Jefferies initiated its Buy rating and assigned the stock a price target of $90. Previously, B. Riley Securities started tracking the stock with Buy rating on September 20, 2024, and set its price target to $75. On August 01, 2024, upgrade upgraded it’s rating to Buy but maintained its price target of $75 on the stock. ROTH MKM reiterated its Buy rating and increased its price target to $67 on July 26, 2024. Loop Capital downgraded its rating to a Hold but $75 remained the price target by the analyst firm on July 16, 2024. Needham reiterated a Buy rating for this stock on May 08, 2024, and upped its price target to $63. In a note dated April 16, 2024, Deutsche Bank initiated an Buy rating and provided a target price of $50 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 $67.06 within the next 12 months. Reddit Inc. [NYSE: RDDT] shares were valued at $74.87 at the most recent close of the market. An investor can expect a potential drop of -10.43% 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. 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 73.24 points at the first support level, and at 71.60 for the second support level. However, for the 1st resistance point, the stock is sitting at 76.09, and for the 2nd resistance point, it is at 77.30.
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 12.65, the price to book ratio is 6.55.
Transactions by insiders
Recent insider trading involved Huffman Steve Ladd, CEO & President, that happened on Sep 30 ’24 when 14000.0 shares were sold. Chief Technology Officer, Slowe Christopher Brian completed a deal on Sep 23 ’24 to sell 11000.0 shares. Meanwhile, Chief Technology Officer Slowe Christopher Brian sold 5000.0 shares on Sep 23 ’24.
