In today’s recent session, 17.19 million shares of the Reddit Inc. (NYSE:RDDT) were traded. Most recently the company’s share price was $115.35, and it changed around $33.61 or 41.11% from the last close, which brings the market valuation of the company to $19.13B. RDDT at last check was trading at a discount to its 52-week high of $82.97, offering almost 28.07% off that amount. The share price’s 52-week low was $37.35, which indicates that the recent value has risen by an impressive 67.62% since then. We note from Reddit Inc.’s average daily trading volume that its 10-day average is 4.88 million shares, with the 3-month average coming to 4.40 million.
Reddit Inc. stock received a consensus recommendation rating of Underweight, based on a mean score of 1.84. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended RDDT as a Hold, whereas 0 deemed it a Buy, and 1 rated it as Underweight. Reddit Inc. is expected to report earnings per share of 0.05 for the current quarter.
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Reddit Inc. (NYSE:RDDT) trade information
Instantly RDDT has been showing a green trend so far today with a performance of 41.11% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 114.00 on recent trading daydecreased the stock’s daily price by -1.18%. The company’s shares are currently up 128.68% year-to-date, but still up 48.49% over the last five days. On the other hand, Reddit Inc. (NYSE:RDDT) is 74.85% up in the 30-day period. We can see from the shorts that 7.11 million shares have been sold at a short interest cover period of 1.61 day(s).
The consensus price target as assigned by Wall Street analysts is $84, which translates to bulls needing to decrease their stock price by -37.32% from its current value. Analyst projections state that RDDT is forecast to be at a low of $45 and a high of $120.
Reddit Inc. (RDDT) estimates and forecasts
Consensus estimates provided by 15 financial analysts predict the company will bring in an average of 357.9M in revenue for the current quarter. 13 analysts expect Reddit Inc. to make 317.5M in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 49.20%. Reddit Inc. earnings are expected to increase by -160.09% in 2024, but the outlook is positive 30.20% per year for the next five years.
Reddit Inc. (NYSE:RDDT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 23.00% of Reddit Inc. shares, and 41.27% of them are in the hands of institutional investors. The stock currently has a share float of 53.60%.
