Reddit Inc (NYSE:RDDT) price on Wednesday, February 05, rose 2.72% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $221.16.
A look at the stock’s price movement, the close in the last trading session was $215.31, moving within a range at $211.007 and $221.18. Turning to its 52-week performance, $218.25 and $37.35 were the 52-week high and 52-week low respectively. Overall, RDDT moved 24.43% over the past month.
Reddit Inc’s market cap currently stands at around $38.83 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 405.47M for the company’s revenue for the quarter, with a low and high estimate of 394M and 419.5M 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 19.13% and 29.29% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 76.94, while 7-day volatility ratio is 6.08% and 6.14% in the 30-day chart. Further, Reddit Inc (RDDT) has a beta value of 0, and an average true range (ATR) of 11.75. Analysts have given the company’s stock an average 52-week price target of $108.5, forecast between a low of $67 and high of $200. Looking at the price targets, the low is 69.71% off current price level while to achieve the yearly target high, price needs to move 9.57%. Nonetheless, investors will most likely welcome a 50.94% jump to $108.5 which is the analysts’ median price.
If we refocus on Reddit Inc (NYSE:RDDT), historical trading data shows that trading volumes averaged 4.44 over the past 10 days and 5.85 million over the past 3 months. The company’s latest data on shares outstanding shows there are 116.91 million shares.
The 40.89% of Reddit Inc’s shares are in the hands of company insiders while institutional holders own 44.59% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 18.55 million on 2025-01-15, giving us a short ratio of 2.98. Current price change has pushed the stock 35.32% 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.
