Reddit Inc (NYSE:RDDT) price on Thursday, January 16, rose 2.45% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $174.87.
A look at the stock’s price movement, the close in the last trading session was $170.69, moving within a range at $169.73 and $176.8. Turning to its 52-week performance, $187.69 and $37.35 were the 52-week high and 52-week low respectively. Overall, RDDT moved 1.29% over the past month.
Reddit Inc’s market cap currently stands at around $30.70 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 403.27M for the company’s revenue for the quarter, with a low and high estimate of 392M and 413M respectively.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RDDT is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 6 recommend RDDT as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
RDDT’s current price about 2.90% and 13.64% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.57, while 7-day volatility ratio is 5.95% and 6.37% in the 30-day chart. Further, Reddit Inc (RDDT) has a beta value of 0, and an average true range (ATR) of 10.93. Analysts have given the company’s stock an average 52-week price target of $99, forecast between a low of $50 and high of $200. Looking at the price targets, the low is 71.41% off current price level while to achieve the yearly target high, price needs to move -14.37%. Nonetheless, investors will most likely welcome a 43.39% jump to $99 which is the analysts’ median price.
If we refocus on Reddit Inc (NYSE:RDDT), historical trading data shows that trading volumes averaged 4.92 over the past 10 days and 6.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 116.91 million shares.
The 41.12% of Reddit Inc’s shares are in the hands of company insiders while institutional holders own 39.23% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 18.25 million on 2024-12-31, giving us a short ratio of 2.98. Current price change has pushed the stock 6.99% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RDDT stock continues to rise going into the next quarter.
