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

128.79

Mkt cap

22B

Volume

4.6M

High

131.69

P/E Ratio

-40.38

52-wk high

139.04

Low

123.14

Div yield

N/A

52-wk low

37.35

Over the past three months, 21 analysts have evaluated Reddit (NYSE:RDDT), showing a range of opinions from bullish to bearish. The average 12-month price target has increased by 8.78% to $72.62. Reddit has shown strong revenue growth and financial performance, with a notable net margin and return on equity.

Portfolio Pulse from Benzinga Insights

October 09, 2024 | 1:00 pm

Reddit's stock is trading higher following Needham's decision to maintain a Buy rating and increase the price target from $75 to $85, along with raised profit estimates for FY24-FY26.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 12:55 pm

Top Wall Street analysts have updated their price targets for several companies, including Netflix, Reddit, Cytokinetics, Sage Therapeutics, Shopify, The Home Depot, Ciena, S&P Global, Blue Owl Capital, and Genpact. Notably, Netflix's price target was raised to $650 by Deutsche Bank, while The Home Depot received an upgrade to Buy from Loop Capital.

Portfolio Pulse from Avi Kapoor

October 09, 2024 | 12:09 pm

Needham analyst Laura Martin has maintained a Buy rating on Reddit (NYSE:RDDT) and raised the price target from $75 to $85.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 9:46 am

JP Morgan analyst Doug Anmuth maintains a Neutral rating on Reddit (NYSE:RDDT) but raises the price target from $59 to $77.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 5:55 pm

JP Morgan analyst Doug Anmuth maintains a Neutral rating on Reddit, Inc (NYSE:RDDT) with a raised price target of $77, citing strong fundamentals but valuation concerns. Reddit's ad performance and revenue growth are positive, but the stock is approaching fair valuation.

Portfolio Pulse from Anusuya Lahiri

October 07, 2024 | 3:48 pm

The article highlights unusual options activity for several communication services stocks, indicating potential trading opportunities. Notable mentions include bearish sentiment for META, BIDU, and VZ, while BILI and NFLX show bullish sentiment.

Portfolio Pulse from Benzinga Insights

September 30, 2024 | 5:35 pm

The article highlights unusual options activity in the Communication Services sector, focusing on large transactions by 'whales' in stocks like META, GOOG, ASTS, TMUS, CHTR, RDDT, TTWO, DIS, and NFLX. These activities can indicate potential trading opportunities.

Portfolio Pulse from Benzinga Insights

September 20, 2024 | 5:35 pm

B. Riley Securities has initiated coverage on Reddit with a Buy rating and set a price target of $75.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 1:35 pm

The FTC report criticizes major tech companies like Amazon, Meta, and Alphabet for extensive data collection practices that compromise user privacy. The report highlights the lack of transparency and inadequate protection for children and teens, urging for legislative action.

Portfolio Pulse from Anthony Noto

September 19, 2024 | 6:49 pm

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