What's Going On With Reddit Stock Monday?
Portfolio Pulse from Adam Eckert
Reddit Inc (NYSE:RDDT) has received varied analyst ratings and price targets following its IPO last month, the first major IPO of 2024. Analysts from Morgan Stanley, JMP Securities, Piper Sandler, Roth MKM, JPMorgan, and Needham have initiated coverage with ratings ranging from Equal-Weight to Buy and price targets between $45 and $55. Reddit's shares were down 3.12% at $40.95 at the time of publication. The company is set to report its first quarterly financial results as a public company on May 7.
April 15, 2024 | 2:13 pm
News sentiment analysis
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Reddit Inc received mixed analyst ratings and price targets ranging from $45 to $55 after its IPO. Shares are currently down 3.12% at $40.95.
The mixed analyst ratings and the current share price drop indicate a cautious market sentiment towards Reddit Inc post-IPO. The upcoming earnings report could be a significant catalyst for the stock, but the current downward trend suggests short-term pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100