Reddit Inc (NYSE:RDDT) shares, rose in value, with the stock price up by 5.87% to the previous day’s close as strong demand from buyers drove the stock to $168.52.
Actively observing the price movement in the last trading, the stock closed the session at $159.17. Referring to stock’s 52-week performance, its high was $230.41, and the low was $37.35. On the whole, RDDT has fluctuated by -16.70% over the past month.
With the market capitalization of Reddit Inc currently standing at about $30.49 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.81B, with a low estimate of 365M and a high estimate of 380.5M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 369.57M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RDDT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of RDDT currently trading nearly -9.96% and -7.59% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.10, while the 7-day volatility ratio is showing 8.50% which for the 30-day chart, stands at 6.84%. Furthermore, Reddit Inc (RDDT)’s beta value is 1.48, and its average true range (ATR) is 12.62.
Data on historical trading for Reddit Inc (NYSE:RDDT) indicates that the trading volumes over the past 3 months, they’ve averaged 6.24 million. According to company’s latest data on outstanding shares, there are 125.00 million shares outstanding.
Nearly 39.58% of Reddit Inc’s shares belong to company insiders and institutional investors own 52.91% of the company’s shares. The stock has risen by 3.11% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RDDT stock heading into the next quarter.
