Reddit Inc. (NYSE:RDDT) Receives $226.33 Average Price Target from Analysts

Shares of Reddit Inc. (NYSE:RDDT) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, fourteen have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $226.3333.

A number of research analysts have commented on the company. Cannonball Research restated a “buy” rating on shares of Reddit in a research note on Tuesday, September 23rd. B. Riley reiterated a “buy” rating and issued a $245.00 price objective (up previously from $235.00) on shares of Reddit in a report on Friday, October 31st. Sanford C. Bernstein raised their target price on Reddit from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Friday, October 31st. Wells Fargo & Company lifted their target price on Reddit from $155.00 to $174.00 and gave the company a “cautious” rating in a research report on Tuesday, October 7th. Finally, Robert W. Baird increased their price target on shares of Reddit from $177.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th.

Reddit Price Performance

Shares of RDDT stock opened at $189.51 on Tuesday. Reddit has a 1-year low of $79.75 and a 1-year high of $282.95. The firm has a market cap of $35.91 billion, a PE ratio of 108.91, a price-to-earnings-growth ratio of 2.23 and a beta of 2.14. The company has a 50-day moving average of $219.24 and a two-hundred day moving average of $176.19.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The business had revenue of $584.91 million for the quarter, compared to the consensus estimate of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s revenue was up 67.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Reddit will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jennifer L. Wong sold 30,659 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $201.82, for a total value of $6,187,599.38. Following the sale, the chief operating officer directly owned 1,295,968 shares in the company, valued at approximately $261,552,261.76. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Christopher Brian Slowe sold 14,000 shares of Reddit stock in a transaction on Monday, November 10th. The shares were sold at an average price of $204.43, for a total value of $2,862,020.00. Following the completion of the transaction, the chief technology officer owned 202,534 shares of the company’s stock, valued at approximately $41,404,025.62. This trade represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 420,126 shares of company stock valued at $93,805,834 in the last ninety days. Company insiders own 34.25% of the company’s stock.

Institutional Trading of Reddit

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Reddit by 12.9% during the third quarter. Vanguard Group Inc. now owns 12,238,508 shares of the company’s stock worth $2,814,734,000 after acquiring an additional 1,401,293 shares during the last quarter. Alliancebernstein L.P. raised its position in Reddit by 103.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,659,990 shares of the company’s stock valued at $593,733,000 after purchasing an additional 2,871,232 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Reddit by 10.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,073,939 shares of the company’s stock worth $427,357,000 after purchasing an additional 389,761 shares during the period. JPMorgan Chase & Co. grew its position in Reddit by 7.5% during 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 last quarter. Finally, State Street Corp increased its stake in Reddit by 138.5% in the second quarter. State Street Corp now owns 2,030,139 shares of the company’s stock valued at $305,678,000 after purchasing an additional 1,178,890 shares during the period.

About Reddit

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.