Reddit Inc. (NYSE:RDDT) traded at $60.03 at close of the session on current trade day and made an upward move of 2.18% on its previous day’s price.
Looking at the stock we see that its previous close was $58.75 with the day’s price range being $58.475 – $60.4. In terms of its 52-week price range, RDDT has a high of $78.08 and a low of $37.35. The company’s stock has gained about 1.09% over that past 30 days.
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Reddit Inc. has a market cap of $9.96 billion and is expected to release its quarterly earnings report in October.
Based on estimates by 12 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 5 have rated the Reddit Inc. (RDDT) stock as a Hold, while 6 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 7.79% off its SMA20 and -2.62% from its 50-day simple moving average. The RSI (14) is pointing at 54.34 while the volatility over the past week is 5.02% and jumps to 5.95% over the past one month. The average price target for the stock over the next 12 months is $67, with the estimates having a low of $45 and a high of $84. These price ends are 25.04% and -39.93% off the current price level respectively, although investors could be excited at the prospect of a -11.61% if the RDDT share price touches on the median price of $67.
Coming back to Reddit Inc. (NYSE:RDDT), we note that the average 3-month trading volume was 3.43 million, while that of the preceding 10-day period stands at 4.16 million. Current shares outstanding are 165.88 million.
The insiders hold 54.98% of the company’s shares while institutions hold 18.10%. The data shows that short shares as of 2024-08-15, stood at 7.11 million at a short ratio of 1.82. Shares short rose in August from the previous month at 7.03 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 19.01% up in year-to-date price movement.
