In the last trading session, 6.15 million shares of the Reddit Inc (NYSE:RDDT) were traded. Most recently the company’s share price was $213.76, and it changed around -$11.17 or -4.97% from the last close, which brings the market valuation of the company to $37.53B. RDDT currently trades at a discount to its 52-week high of $230.41, offering almost -7.79% off that amount. The share price’s 52-week low was $37.35, which indicates that the current value has risen by an impressive 82.53% since then. We note from Reddit Inc’s average daily trading volume that its 10-day average is 4.76 million shares, with the 3-month average coming to 5.69 million.
Reddit Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.87. If we narrow it down even further, the data shows that 0 out of 20 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 7 recommended RDDT as a Hold, whereas 8 deemed it a Buy, and 1 rated it as Underweight. Reddit Inc is expected to report earnings per share of 0.25 for the current quarter.
Reddit Inc (NYSE:RDDT) trade information
Instantly RDDT has showed a red trend with a performance of -4.97% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 230.41 on recent trading dayincreased the stock’s daily price by 7.23%. The company’s shares are currently up 30.79% year-to-date, but still down -0.72% over the last five days. On the other hand, Reddit Inc (NYSE:RDDT) is 27.94% up in the 30-day period. We can see from the shorts that 18.55 million shares have been sold at a short interest cover period of 3.54 day(s).
The consensus price target as assigned by Wall Street analysts is $114, which translates to bulls needing to decrease their stock price by -87.51% from its current value. Analyst projections state that RDDT is forecast to be at a low of $77 and a high of $200.
Reddit Inc (RDDT) estimates and forecasts
Consensus estimates provided by 19 financial analysts predict the company will bring in an average of 405.55M in revenue for the current quarter. 16 analysts expect Reddit Inc to make 358.44M in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 47.53%.
Reddit Inc (NYSE:RDDT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 22.03% of Reddit Inc shares, and 75.67% of them are in the hands of institutional investors. The stock currently has a share float of 97.06%. Reddit Inc stock is held by 471.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 1.8362% of the shares, which is about 3.02 million shares worth $192.85 million.
VANGUARD GROUP INC, with 1.4873% or 2.44 million shares worth $156.21 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Fidelity OTC Portfolio and Fidelity Contrafund Inc were the top two Mutual Funds as of Dec 31, 2024. The former held 2.74 shares worth $586.44 million, making up 2.29% of all outstanding shares. On the other hand, Fidelity Contrafund Inc held roughly 2.33 shares worth around $497.94 million, which represents about 1.95% of the total shares outstanding.
