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

Shares of companies within the broader communication services sector are trading lower possibly in sympathy with overall market weakness.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 7:08 pm

Morgan Stanley analyst Brian Nowak maintains an Equal-Weight rating on Reddit (NYSE:RDDT) and raises the price target from $63 to $70.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 5:23 pm

Analysts' ratings for Reddit (NYSE:RDDT) over the last quarter show a mix of bullish and bearish sentiments. The average 12-month price target has increased by 14.7% to $64.61. Recent analyst actions include several rating upgrades and price target increases.

Portfolio Pulse from Benzinga Insights

July 22, 2024 | 9:01 pm

Bernstein analyst Mark Shmulik maintains an Underperform rating on Reddit (NYSE:RDDT) but raises the price target from $45 to $50.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 6:57 pm

IQVIA Holdings Inc. (NYSE:IQV) posted strong Q2 earnings, raising its 2024 guidance, leading to a 7.4% stock surge. Other notable gainers include Tellurian Inc. (NASDAQ:TELL) up 64.5% on acquisition news, Serve Robotics Inc. (NASDAQ:SERV) up 46.6% after Nvidia disclosed a stake, and Cassava Sciences, Inc. (NASDAQ:SAVA) up 27.2% on positive Phase 3 trial updates.

Portfolio Pulse from Avi Kapoor

July 22, 2024 | 3:29 pm

Reddit, Inc. (NYSE:RDDT) shares are trading higher due to a new partnership program with major sports leagues, including the NFL, NBA, MLB, PGA Tour, and NASCAR. This partnership will provide fans with exclusive content and benefit advertisers. Reddit's stock has risen over 45% since its March 2024 IPO and recently hit an all-time high of $78.08. Analysts have mixed ratings with an average 12-month price target of $65.47.

Portfolio Pulse from Erica Kollmann

July 22, 2024 | 3:08 pm

Reddit shares are trading higher after the company announced deals with major sports leagues to get content to its site and draw advertisers.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:07 pm

Reddit shares are trading higher following a report suggesting the company has made deals with major sports leagues to get content to its site and draw advertisers.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:06 pm

Reddit has partnered with the NFL and NBA to enhance its revenue streams. This collaboration aims to leverage the popularity of sports content on the platform to attract more advertisers and increase user engagement.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 1:03 pm

The article compares the performance of two social media stocks, Reddit, Inc. (NYSE:RDDT) and Trump Media & Technology Group Corp. (NASDAQ:DJT), since their March listings. TMTG has faced volatility due to political factors and user growth challenges, while Reddit has benefited from AI partnerships and strong fundamentals.

Portfolio Pulse from Shanthi Rexaline

July 17, 2024 | 8:21 am

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