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

Analysts have provided mixed reviews on Reddit (NYSE:RDDT) over the past three months, with a majority being bullish. The average 12-month price target has increased by 6.65% to $70.72. Reddit has shown strong revenue growth and efficient cost management, but faces challenges in asset utilization.

Portfolio Pulse from Benzinga Insights

September 18, 2024 | 12:00 pm

Needham analyst Laura Martin has reiterated a Buy rating on Reddit (NYSE:RDDT) and maintained a price target of $75.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 10:43 am

Elon Musk's rebranded social media platform, X, is experiencing significant growth, challenging Facebook's declining user engagement. Pinterest and app-based platforms like Snapchat are also seeing growth, while LinkedIn's growth has slowed. Community-focused platforms like Reddit are on the rise.

Portfolio Pulse from Surbhi Jain

September 11, 2024 | 5:17 pm

Reddit, Inc. (NYSE:RDDT) shares surged after resolving a platform outage issue. The company reported strong second-quarter revenue and positive third-quarter forecasts. Investors can access Reddit stock via Innovator Deepwater Frontier Tech ETF (NYSE:LOUP).

Portfolio Pulse from Lekha Gupta

August 29, 2024 | 4:45 pm

User reports indicate that Reddit is experiencing issues, as noted by DownDetector. This could potentially affect user engagement and ad revenue for the platform.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 8:19 pm

The article highlights significant options activity for 10 communication services stocks, indicating potential trading opportunities. Notable bullish and bearish sentiments are observed in options for companies like SIRI, META, GOOGL, and others.

Portfolio Pulse from Benzinga Insights

August 21, 2024 | 5:35 pm

Reddit is preparing to launch its own search ads business, as indicated by recent strategic hires, CEO statements, and the platform's focus on contextual keyword targeting. The move aims to capitalize on Reddit's high-intent user base and evolving search behaviors.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:54 pm

The article covers various updates in the consumer tech sector, including earnings reports from Palantir, Reddit, Walt Disney, and Bumble. It also discusses legal issues faced by CrowdStrike and Alphabet, gaming updates from Microsoft and Sony, and technology developments from Nvidia, Meta, and Apple.

Portfolio Pulse from Lekha Gupta

August 11, 2024 | 5:00 pm

Marin Software Incorporated (NASDAQ:MRIN) shares surged after the company enhanced its integrations with Reddit, Inc. (NYSE:RDDT) and X (formerly Twitter). The integration allows marketers to leverage Marin’s AI-driven tools to target users on these platforms. Marin's CEO highlighted the benefits of this integration for digital marketers. Despite recent financial losses, the stock saw a significant premarket increase.

Portfolio Pulse from Lekha Gupta

August 09, 2024 | 12:31 pm

Marin Software has announced enhancements to its integrations with Reddit and X, allowing marketers to use AI-powered tools for intelligence, optimization, and automation to reach users on these platforms.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 9:35 pm

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