The stock of Reddit Inc (NYSE:RDDT) last traded at $136.27, down -0.65% from the previous session.
RDDT stock price is now 54.23% away from the 50-day moving average and 107.03% away from the 200-day moving average. The market capitalization of the company currently stands at $23.93B.
With the price target of $90, Jefferies recently initiated with Buy rating for Reddit Inc (NYSE: RDDT). On September 20, 2024, B. Riley Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $75, while ‘Loop Capital’ rates the stock as ‘Buy’
In other news, Wong Jennifer L., Chief Operating Officer sold 33,333 shares of the company’s stock on Nov 18 ’24. The stock was sold for $4,270,905 at an average price of $128.13. Upon completion of the transaction, the Chief Operating Officer now directly owns 1,542,457 shares in the company, valued at $210.19 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15 ’24, CEO & President Huffman Steve Ladd sold 110,408 shares of the business’s stock. A total of $13,912,790 was realized by selling the stock at an average price of $126.01. A total of 44.70% of the company’s stock is owned by insiders.
During the past 12 months, Reddit Inc has had a low of $37.35 and a high of $139.04. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 11.96, and a quick ratio of 11.96. The fifty day moving average price for RDDT is $86.8252 and a two-hundred day moving average price translates $65.49292 for the stock.
The latest earnings results from Reddit Inc (NYSE: RDDT) was released for 2024-09-30. The net profit margin was -47.83% and return on equity was -31.80% for RDDT. The company reported revenue of $348.35 million for the quarter, compared to $207.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 67.87 percent. For the current quarter, analysts expect RDDT to generate $399.1M in revenue.
