Streetbeat News

RDDT

Reddit, Inc.

https://www.redditinc.com

Industry

Internet Content & Information

Reddit, Inc. operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California. Reddit, Inc. operates as a subsidiary of Advance Publications, Inc.

Open

121.57

Mkt cap

23B

Volume

7.6M

High

133.22

P/E Ratio

-43.24

52-wk high

133.22

Low

121.57

Div yield

N/A

52-wk low

37.35

Reddit reported strong Q3 2024 financial results, with earnings per share of $0.16, significantly surpassing the expected loss of $0.08. The company's sales also exceeded expectations, reaching $348.40 million compared to the anticipated $311.42 million.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:12 pm

Reddit Inc is set to report its Q3 earnings, with expected revenue growth but a potential widening net loss. The company has seen significant stock price growth since its IPO, driven by increased user engagement and ad revenue. However, challenges such as high operating costs and competition remain.

Portfolio Pulse from Anthony Noto

October 28, 2024 | 5:22 pm

Reddit is increasingly being used as a source for authentic information, challenging Google's dominance in the search market. Reddit's CEO confirmed that users often use Google to access Reddit content. This trend is particularly notable among younger generations who are moving away from traditional search engines. Despite this, Google remains a strong investment according to analysts.

Portfolio Pulse from Ananya Gairola

October 28, 2024 | 5:46 am

Reddit shares are experiencing an upward trend following Loop Capital's decision to increase its price target from $80 to $90.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 8:01 pm

In the past three months, 21 analysts have evaluated Reddit (NYSE:RDDT), with a majority showing bullish sentiment. The average 12-month price target has increased by 9.24% to $77.43. Analysts have adjusted their ratings and price targets, reflecting positive revenue growth and strong financial health indicators for Reddit.

Portfolio Pulse from Benzinga Insights

October 25, 2024 | 7:00 pm

Loop Capital analyst Alan Gould maintains a Buy rating on Reddit (NYSE:RDDT) and raises the price target from $80 to $90.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 6:05 pm

Roth MKM analyst Rohit Kulkarni has maintained a Buy rating on Reddit and increased the price target from $66 to $89, indicating a positive outlook for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 3:44 pm

Jefferies analyst John Colantuoni maintains a Buy rating on Reddit (NYSE:RDDT) and raises the price target from $90 to $100.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:46 pm

B. Riley Securities has maintained a Buy rating on Reddit and raised its price target from $75 to $87, indicating confidence in the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 5:28 pm

Meta Platforms Inc. (NASDAQ:META) is facing lawsuits from over 30 U.S. states accusing it of contributing to mental health issues among teenagers by making its platforms addictive. A U.S. judge rejected Meta's attempt to dismiss these claims, allowing the lawsuits to proceed. Similar motions from YouTube (Alphabet Inc.), Snapchat (Snap Inc.), and TikTok were also rejected.

Portfolio Pulse from Ananya Gairola

October 16, 2024 | 3:14 am

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