B. Riley Financial Issues Positive Forecast for Reddit (NYSE:RDDT) Stock Price

Reddit (NYSE:RDDTFree Report) had its price target lifted by B. Riley Financial from $245.00 to $250.00 in a research report sent to investors on Friday morning, MarketBeat reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Morgan Stanley set a $240.00 price target on Reddit in a report on Friday. Wells Fargo & Company boosted their target price on Reddit from $186.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Argus set a $300.00 target price on shares of Reddit in a report on Friday, January 9th. JPMorgan Chase & Co. lifted their price target on shares of Reddit from $190.00 to $227.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, UBS Group set a $265.00 price objective on shares of Reddit in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $241.31.

Get Our Latest Analysis on Reddit

Reddit Trading Down 7.8%

NYSE RDDT opened at $139.27 on Friday. The firm has a market capitalization of $26.39 billion, a price-to-earnings ratio of 53.16, a P/E/G ratio of 1.05 and a beta of 2.17. The firm’s 50 day simple moving average is $221.22 and its 200 day simple moving average is $214.67. Reddit has a 1 year low of $79.75 and a 1 year high of $282.95.

Reddit (NYSE:RDDTGet Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 22.03%. The business had revenue of $725.61 million during the quarter, compared to the consensus estimate of $665.80 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company’s revenue was up 69.7% on a year-over-year basis. On average, equities research analysts forecast that Reddit will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Reddit

In other Reddit news, COO Jennifer L. Wong sold 27,159 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $225.73, for a total transaction of $6,130,601.07. Following the sale, the chief operating officer directly owned 1,157,369 shares of the company’s stock, valued at $261,252,904.37. The trade was a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Christopher Brian Slowe sold 14,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $212.61, for a total transaction of $2,976,540.00. Following the transaction, the chief technology officer directly owned 167,694 shares of the company’s stock, valued at $35,653,421.34. The trade was a 7.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 523,511 shares of company stock worth $114,237,285 over the last quarter. Insiders own 34.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Reddit by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock worth $3,062,339,000 after acquiring an additional 1,083,540 shares during the last quarter. State Street Corp lifted its position in shares of Reddit by 22.3% in the 3rd quarter. State Street Corp now owns 2,481,931 shares of the company’s stock worth $570,819,000 after purchasing an additional 451,792 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Reddit by 7.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,051,175 shares of the company’s stock worth $308,846,000 after purchasing an additional 143,680 shares during the period. Geode Capital Management LLC boosted its stake in shares of Reddit by 72.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,989,004 shares of the company’s stock valued at $299,044,000 after purchasing an additional 833,245 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Reddit during the second quarter worth $294,254,000.

More Reddit News

Here are the key news stories impacting Reddit this week:

Reddit Company Profile

(Get Free Report)

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.

Featured Stories

Analyst Recommendations for Reddit (NYSE:RDDT)

Receive News & Ratings for Reddit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reddit and related companies with MarketBeat.com's FREE daily email newsletter.