In the last trading session, 5.49 million Reddit Inc (NYSE:RDDT) shares changed hands as the company’s beta touched 0. With the company’s per share price at $215.31 changed hands at $13.0 or 6.43% during last session, the market valuation stood at $37.80B. RDDT’s last price was a premium, traded about 3.11% off its 52-week high of $208.62. The share price had its 52-week low at $37.35, which suggests the last value was 82.65% up since then. When we look at Reddit Inc’s average trading volume, we note the 10-day average is 4.63 million shares, with the 3-month average coming to 5.88 million.
Analysts gave the Reddit Inc (RDDT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.82. If we narrow down to specifics, the data shows that 0 out of 12 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 5 recommended RDDT as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Reddit Inc’s EPS for the current quarter is expected to be 0.24.
Reddit Inc (NYSE:RDDT) trade information
Instantly RDDT was in green as seen at the end of in last trading. With action 10.56%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 31.74%, with the 5-day performance at 10.56% in the green. However, in the 30-day time frame, Reddit Inc (NYSE:RDDT) is 29.78% up. Looking at the short shares, we see there were 18.55 million shares sold at short interest cover period of 2.98 days.
The consensus price target for the stock as assigned by Wall Street analysts is 105, meaning bulls need a downside of -105.06% from its current market value. According to analyst projections, RDDT’s forecast low is 67 with 200 as the target high. To hit the forecast high, the stock’s price needs a 7.11% surge from its current level, while the stock would need to tank 68.88% for it to hit the projected low.
Reddit Inc (RDDT) estimates and forecasts
Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of 405.47M. 15 analysts are of the opinion that Reddit Inc’s revenue for the current quarter will be 357.21M. The estimates for the next quarter sales put growth at 47.02%.
Reddit Inc (NYSE:RDDT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 21.70% of Reddit Inc shares while 73.96% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 94.45%. There are 73.96% institutions holding the Reddit Inc stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 1.8362% of the shares, roughly 3.02 million RDDT shares worth $192.85 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 1.4873% or 2.44 million shares worth $156.21 million as of 2024-06-30.
