Now Is A Good Time To Buy Reddit Inc. (NYSE: RDDT)

During the last session, Reddit Inc. (NYSE:RDDT)’s traded shares were 37.68 million. At the end of the trading day, the stock’s price was $116.05, reflecting an intraday gain of 41.97% or $34.31. The 52-week high for the RDDT share is $82.97, that puts it up 28.5 from that peak though still a striking 67.82% gain since the share price plummeted to a 52-week low of $37.35. The company’s market capitalization is $19.25B, and the average intraday trading volume over the past 10 days was 8.27 million shares, and the average trade volume was 4.40 million shares over the past three months.

Reddit Inc. (RDDT) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.84. RDDT has a Sell rating from 0 analyst(s) out of 12 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.05.

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Reddit Inc. (NYSE:RDDT) trade information

Reddit Inc. (RDDT) registered a 41.97% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 41.97% in intraday trading to $116.05, hitting a weekly high. The stock’s 5-day price performance is 49.39%, and it has moved by 75.91% in 30 days. The short interest in Reddit Inc. (NYSE:RDDT) is 7.11 million shares and it means that shorts have 1.61 day(s) to cover.

The consensus price target of analysts on Wall Street is $84, which implies a decrease of -38.15% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $45 and $120 respectively. As a result, RDDT is trading at a discount of -3.4% off the target high and 61.22% off the low.

As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 357.9M as predicted by 15 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to 317.5M by the end of current fiscal year.

While earnings are projected to return -158.14% in 2024, the next five years will return 30.20% per annum.

RDDT Dividends

Reddit Inc. is due to release its next quarterly earnings in November. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.