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

Reddit Inc (NYSE:RDDT) reported strong Q2 earnings with revenue of $281.2 million, beating estimates. Daily active users increased by 51% year-over-year. Despite a quarterly loss of 6 cents per share, the loss was significantly lower than expected. The company provided positive Q3 revenue guidance.

Portfolio Pulse from Adam Eckert

August 06, 2024 | 8:25 pm

Reddit has provided its financial outlook for Q3 2024, estimating revenue between $290 million and $310 million, surpassing the $253 million estimate. Adjusted EBITDA is projected to be between $40 million and $60 million.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:13 pm

Reddit reported its Q2 2024 financial results with an adjusted EPS of $(0.06), which may not be comparable to the $(0.33) estimate. However, the company beat sales estimates, reporting $281.20 million compared to the expected $253.58 million.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:05 pm

Cannonball Research has initiated coverage on Reddit (NYSE:RDDT) with a Buy rating and set a price target of $67.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 4:40 pm

LightShed Partners has initiated coverage on Reddit (NYSE:RDDT) with a Buy rating and set a price target of $84.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 5:39 pm

Reddit shares are trading higher after Loop Capital upgraded the stock from Hold to Buy.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 1:12 pm

Loop Capital has upgraded Reddit (NYSE:RDDT) from Hold to Buy, maintaining the price target at $75.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 12:03 pm

Raymond James analyst Josh Beck maintains a Strong Buy rating on Reddit (NYSE:RDDT) and raises the price target from $65 to $70.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 5:02 pm

JMP Securities analyst Andrew Boone has reiterated a Market Outperform rating on Reddit (NYSE:RDDT) and maintained a price target of $84.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 6:04 pm

Roth MKM analyst Rohit Kulkarni maintains a Buy rating on Reddit (NYSE:RDDT) and raises the price target from $61 to $67.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 5:14 pm

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