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

B of A Securities analyst Justin Post maintains a Neutral rating on Reddit (NYSE:RDDT) and raises the price target from $57 to $60.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 5:13 pm

Roth MKM analyst Rohit Kulkarni maintains a Buy rating on Reddit (NYSE:RDDT) but lowers the price target from $67 to $66.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 4:51 pm

The U.S. stock market is poised for its second consecutive day of gains, driven by positive earnings reports and reassurances from the Bank of Japan. The U.S. dollar surged against the yen, and crude oil prices spiked due to a larger-than-expected drawdown in U.S. crude inventories. Major indices and ETFs saw gains, with energy stocks leading the way.

Portfolio Pulse from Piero Cingari

August 07, 2024 | 4:46 pm

Reddit Inc. (NYSE: RDDT) reported strong Q2 results with significant growth in daily active users and revenue. However, JPMorgan warns of potential volatility due to an upcoming lock-up expiration and a possible slowdown in advertising revenue growth.

Portfolio Pulse from Surbhi Jain

August 07, 2024 | 12:52 pm

Piper Sandler analyst Thomas Champion maintains an Overweight rating on Reddit (NYSE:RDDT) and raises the price target from $65 to $70.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 11:34 am

U.S. stocks surged on Tuesday with the Dow Jones, NASDAQ, and S&P 500 all experiencing gains. Key stocks on investors' radars included Reddit, Dell, Airbnb, Rivian, and Tesla, each reacting to various company-specific news.

Portfolio Pulse from Benzinga Neuro

August 07, 2024 | 3:18 am

Reddit Inc. (NYSE:RDDT) CEO Steve Huffman announced restrictions on content access, targeting companies like Microsoft (NASDAQ:MSFT) for scraping data without agreements. This policy shift aims to enhance data transparency and user privacy. Despite a strong Q2 earnings report, Reddit's stock fell 4.31% and continued to decline in after-hours trading.

Portfolio Pulse from Ananya Gairola

August 07, 2024 | 2:56 am

Reddit Inc. (NYSE:RDDT) plans to introduce monetization features for developers, allowing users to create and earn money on the platform. This move aims to diversify revenue streams and enhance user engagement. Despite a 54% year-over-year revenue increase in Q2, Reddit's stock declined due to the upcoming end of the pre-IPO lockup and conservative forecasts.

Portfolio Pulse from Kaustubh Bagalkote

August 07, 2024 | 2:35 am

Cathie Wood's Ark Invest made significant trades in Amazon, Reddit, and AMD. Ark ETFs including ARKF, ARKK, ARKW, ARKQ, and ARKX were involved. Reddit reported strong Q2 revenue but faces challenges. Amazon remains a popular choice for Ark. AMD shares rose amid NVIDIA's design flaw issues.

Portfolio Pulse from Benzinga Neuro

August 07, 2024 | 2:29 am

Reddit Inc. (NYSE:RDDT) has projected Q3 revenue above Wall Street expectations, indicating a rebounding digital ad market. Despite this, the stock declined due to the upcoming end of the pre-IPO lockup, low ARPU growth, and a conservative forecast. Reddit's strong Q2 performance and content licensing deals with Alphabet Inc. (NASDAQ:GOOGL) and Microsoft Corp. (NASDAQ:MSFT) backed OpenAI have sparked optimism.

Portfolio Pulse from Benzinga Neuro

August 07, 2024 | 1:41 am

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