Reddit Inc (NYSE:RDDT) has seen 10.57 million shares traded in the last trading session. The company, currently valued at $21.69B, closed the last trade at $122.57 per share which meant it gained $13.54 on the day or 12.42% during that session. The RDDT stock price is -0.84% off its 52-week high price of $123.60 and 69.53% 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 10.73 million shares traded. The 3-month trading volume is 5.40 million shares.
The consensus among analysts is that Reddit Inc (RDDT) is Buy stock at the moment, with a recommendation rating of 1.84. 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 0.21.
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Reddit Inc (NYSE:RDDT) trade information
Sporting 12.42% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the RDDT stock price touched $122.57 or saw a rise of 0.83%. Year-to-date, Reddit Inc shares have moved 143.00%, while the 5-day performance has seen it change 49.95%. Over the past 30 days, the shares of Reddit Inc (NYSE:RDDT) have changed 74.01%. Short interest in the company has seen 7.11 million shares shorted with days to cover at 1.61.
Wall Street analysts have a consensus price target for the stock at $84, which means that the shares’ value could drop -45.92% from current levels. The projected low price target is $45.0 while the price target rests at a high of $120.0. In that case, then, we find that the current price level is 2.1% off the targeted high while a plunge would see the stock lose 63.29% from current levels.
Reddit Inc (RDDT) estimates and forecasts
The company’s shares have gained 148.12% over the past 6 months, compared to 19.70% for the industry.
16 analysts offering their estimates for the company have set an average revenue estimate of 399.39M for the current quarter. 13 have an estimated revenue figure of 344.26M for the next ending quarter.
Earnings growth for 2024 is a modest -183.16% 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 on 2024-Oct-29 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 18.24% of the company shares, while shares held by institutions stand at 33.50% with a share float percentage of 40.97%. Investors are also buoyed by the number of investors in a company, with Reddit Inc having a total of 254.0 institutions that hold shares in the company.
