Reddit Inc. (NYSE:RDDT) has seen 1.17 million shares traded in the recent trading session. The company, currently valued at $7.79B, closed the recent trade at $52.80 per share which meant it lost -$0.11 on the day or -0.21% during that session. The RDDT stock price is -47.88% off its 52-week high price of $78.08 and 29.26% above the 52-week low of $37.35. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.94 million shares traded. The 3-month trading volume is 3.63 million shares.
The consensus among analysts is that Reddit Inc. (RDDT) is Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 5 out of 12 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.15.
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Reddit Inc. (NYSE:RDDT) trade information
Sporting -0.21% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the RDDT stock price touched $52.80 or saw a rise of 9.74%. Year-to-date, Reddit Inc. shares have moved 4.68%, while the 5-day performance has seen it change -7.06%. Over the past 30 days, the shares of Reddit Inc. (NYSE:RDDT) have changed -28.50%. Short interest in the company has seen 7.03 million shares shorted with days to cover at 2.43.
Wall Street analysts have a consensus price target for the stock at $67, which means that the shares’ value could jump 21.19% from the levels at last check today. The projected low price target is $45.0 while the price target rests at a high of $84.0. In that case, then, we find that the latest price level in today’s session is -59.09% off the targeted high while a plunge would see the stock lose 14.77% from the levels at last check today.
Reddit Inc. (RDDT) estimates and forecasts
13 analysts offering their estimates for the company have set an average revenue estimate of 303.41M for the current quarter. 13 have an estimated revenue figure of 346.97M for the next ending quarter.
Earnings growth for 2024 is a modest -202.36% while over the next 5 years, the company’s earnings are expected to increase by 30.20%.
RDDT Dividends
Reddit Inc. is expected to release its next earnings report 2024-Aug-06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Reddit Inc. (NYSE:RDDT)’s Major holders
Insiders own 9.38% of the company shares, while shares held by institutions stand at 24.78% with a share float percentage of 27.34%. Investors are also buoyed by the number of investors in a company, with Reddit Inc. having a total of 183.0 institutions that hold shares in the company.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Fidelity OTC Portfolio. As of Mar 31, 2024, the former fund manager holds about 0.73% shares in the company for having 695.52 shares of worth $36.57 million while later fund manager owns 617.7 shares of worth $32.48 million as of Jun 30, 2024, which makes it owner of about 0.65% of company’s outstanding stock.
