In today’s recent session, 3.12 million shares of the Reddit Inc (NYSE:RDDT) have been traded, and its beta is 2.63. Most recently the company’s share price was $125.57, and it changed around $9.87 or 8.53% from the last close, which brings the market valuation of the company to $22.72B. RDDT at last check was trading at a discount to its 52-week high of $230.41, offering almost -83.49% off that amount. The share price’s 52-week low was $37.35, which indicates that the recent value has risen by an impressive 70.26% since then. We note from Reddit Inc’s average daily trading volume that its 10-day average is 11.89 million shares, with the 3-month average coming to 6.99 million.
Reddit Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 1 out of 22 analysts rate the stock as a Sell; another 5 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 0.02 for the current quarter.
Reddit Inc (NYSE:RDDT) trade information
Instantly RDDT has been showing a green trend so far today with a performance of 8.53% on intraday trading today. The rise to weekly highs of 124.88 on recent trading daydecreased the stock’s daily price by -0.55%. On the other hand, Reddit Inc (NYSE:RDDT) is -24.54% down in the 30-day period. We can see from the shorts that 14.65 million shares have been sold at a short interest cover period of 2.6 day(s).
The consensus price target as assigned by Wall Street analysts is $112, which translates to bulls needing to decrease their stock price by -12.12% from its current value. Analyst projections state that RDDT is forecast to be at a low of $75 and a high of $220.
Reddit Inc (RDDT) estimates and forecasts
The year-over-year growth rate is expected to be 39.28%, up from the previous year.
Consensus estimates provided by 18 financial analysts predict the company will bring in an average of 369.57M in revenue for the current quarter. 18 analysts expect Reddit Inc to make 405.1M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 242.96M and 281.18M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 52.11%. Forecasts for the next quarter put sales growth at 44.07%. Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -65.02%.
Reddit Inc (NYSE:RDDT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 18.22% of Reddit Inc shares, and 83.46% of them are in the hands of institutional investors. The stock currently has a share float of 102.05%. Reddit Inc stock is held by 606.0 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.
Vanguard Total Stock Market Index Fund and Fidelity OTC Portfolio were the top two Mutual Funds as of Dec 31, 2024. The former held 3.19 shares worth $401.35 million, making up 2.54% of all outstanding shares. On the other hand, Fidelity OTC Portfolio held roughly 2.72 shares worth around $341.59 million, which represents about 2.16% of the total shares outstanding.
