Reddit (RDDT) Scheduled to Post Quarterly Earnings on Tuesday

Reddit (NYSE:RDDT) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect Reddit to post earnings of -2.34 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Reddit Stock Down 2.2 %

Shares of RDDT stock opened at 46.64 on Monday. Reddit has a 52-week low of 37.35 and a 52-week high of 74.90.

Insider Activity

In other news, Director David C. Habiger acquired 3,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of 34.00 per share, with a total value of 102,000.00. Following the completion of the acquisition, the director now owns 24,906 shares of the company’s stock, valued at 846,804. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Reddit news, CEO Steve Ladd Huffman sold 500,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of 32.30, for a total transaction of 16,150,000.00. Following the sale, the chief executive officer now directly owns 710,306 shares of the company’s stock, valued at approximately 22,942,883.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David C. Habiger acquired 3,000 shares of Reddit stock in a transaction on Monday, March 25th. The shares were bought at an average price of 34.00 per share, with a total value of 102,000.00. Following the purchase, the director now directly owns 24,906 shares in the company, valued at approximately 846,804. The disclosure for this purchase can be found here. Insiders have sold 1,084,798 shares of company stock valued at $35,038,975 over the last ninety days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JMP Securities began coverage on Reddit in a report on Monday, April 15th. They issued an “outperform” rating and a $53.00 price target for the company. New Street Research assumed coverage on Reddit in a research report on Tuesday, March 26th. They set a “neutral” rating and a $54.00 price target on the stock. Roth Capital restated a “buy” rating on shares of Reddit in a report on Monday, April 15th. JPMorgan Chase & Co. assumed coverage on shares of Reddit in a research report on Monday, April 15th. They set a “neutral” rating and a $47.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Reddit in a research report on Tuesday, April 16th. They set a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and a consensus target price of 49.20.

Reddit Company Profile

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.