The trading price of Reddit Inc (NYSE:RDDT) closed higher on Friday, February 07, and closing at $225.23, 4.03% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $218.2001 and $227.05. In examining the 52-week price action we see that the stock hit a 52-week high of $222.44 and a 52-week low of $37.35. Over the past month, the stock has gained 30.70% in value.
Reddit Inc, whose market valuation is $39.55 billion at the time of this writing, is expected to release its quarterly earnings report in March. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.25 per share this quarter, however they have predicted annual earnings per share of -4.62 for current year and 0.86 for next year.
Analysts have forecast the company to bring in revenue of 405.06M for the current quarter, with the likely lows of 394M and highs of 419.5M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 1.28B.
On the technical side, indicators suggest RDDT has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned RDDT a recommendation rating is 12. Out of them, 5 rate it a Hold, while 6 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged Reddit Inc (RDDT) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that RDDT’s price is currently 18.22% off the SMA20 and 29.59% off the SMA50. The RSI metric on the 14-day chart is currently showing 75.19, and weekly volatility stands at 5.89%. When measured over the past 30 days, the indicator reaches 5.94%. Reddit Inc (NYSE:RDDT)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 11.77. With analysts defining $77-$200 as the low and high price targets, we arrive at a consensus price target of $114 for the trailing 12-month period. The current price is about 65.81% off the estimated low and 11.2% off the forecast high, based on this estimate. Investors will be thrilled if RDDT’s share price rises to $114, which is the median consensus price. At that level, RDDT’s share price would be 49.39% above current price.
To see how Reddit Inc stock has been performing in comparison to its peers in the industry, here are the numbers: RDDT stock’s performance was 4.03% in the latest trading.
An evaluation of the daily trading volume of Reddit Inc (NYSE:RDDT) indicates that the 3-month average is 5.73 million. However, this figure has increased over the past 10 days to an average of 4.73.
Currently, records show that 116.91 million of the company’s shares remain outstanding. The insiders hold 40.89% of outstanding shares, whereas institutions hold 46.24%. The stats also highlight that short interest as of 2025-01-15, stood at 18.55 million shares, resulting in a short ratio of 2.98 at that time. It is noteworthy that short shares in January were up slightly from the previous month’s figure, which was 16.18 million. However, since the stock’s price has seen 37.81% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
