Reddit Inc. [RDDT] stock prices are up 2.59% to $81.74 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The RDDT shares have gain 5.76% over the last week, with a monthly amount glided 24.00%, 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.
The stock price of Reddit Inc. [RDDT] has been fluctuating between $37.35 and $82.53 over the past year. Currently, Wall Street analysts expect the stock to reach $69.06 within the next 12 months. Reddit Inc. [NYSE: RDDT] shares were valued at $81.74 at the most recent close of the market. An investor can expect a potential drop of -15.51% based on the average RDDT price forecast.
Analyzing the RDDT fundamentals
The Reddit Inc. [NYSE:RDDT] reported sales of 981.40M for trailing twelve months, representing a surge 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 79.57 points at the first support level, and at 77.40 for the second support level. However, for the 1st resistance point, the stock is sitting at 83.44, and for the 2nd resistance point, it is at 85.15.
Ratios To Look Out For
It’s worth pointing out that Reddit Inc. [NYSE:RDDT]’s Current Ratio is 12.42. As well, the Quick Ratio is 12.42, while the Cash Ratio is 2.93. Considering the valuation of this stock, the price to sales ratio is 13.82, the price to book ratio is 7.15.
Transactions by insiders
Recent insider trading involved Slowe Christopher Brian, Chief Technology Officer, that happened on Oct 22 ’24 when 11000.0 shares were sold. Chief Technology Officer, Slowe Christopher Brian completed a deal on Oct 22 ’24 to sell 5000.0 shares. Meanwhile, Chief Operating Officer Wong Jennifer L. sold 33334.0 shares on Oct 16 ’24.
