The price of Reddit Inc (NYSE:RDDT) shares last traded on Wall Street rose 3.72% to $202.00.
RDDT stock price is now 23.54% away from the 50-day moving average and 124.91% away from the 200-day moving average. The market capitalization of the company currently stands at $35.47B.
With the price target enhanced from $116 to $195, ROTH MKM Downgraded its rating from Buy to Neutral for Reddit Inc (NYSE: RDDT). On December 20, 2024, Guggenheim recently initiated its ‘Buy’ rating on the stock quoting a target price of $210, while ‘Wells Fargo’ rates the stock as ‘Overweight’
In other news, Slowe Christopher Brian, Chief Technology Officer sold 11,000 shares of the company’s stock on Jan 22 ’25. The stock was sold for $2,025,259 at an average price of $184.11. Upon completion of the transaction, the Chief Technology Officer now directly owns 311,381 shares in the company, valued at $62.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 22 ’25, Chief Technology Officer Slowe Christopher Brian sold 5,000 shares of the business’s stock. A total of $920,772 was realized by selling the stock at an average price of $184.15. This leaves the insider owning 35,252 shares of the company worth $7.12 million. A total of 40.89% 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 $196.83. 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 $162.1082 and a two-hundred day moving average price translates $89.02475 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.
