Reddit Inc (NYSE:RDDT) price on Thursday, March 20, fall -1.06% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $108.75.
A look at the stock’s price movement, the close in the last trading session was $109.91, moving within a range at $107.04 and $112.99. Turning to its 52-week performance, $230.41 and $37.35 were the 52-week high and 52-week low respectively. Overall, RDDT moved -42.66% over the past month.
Reddit Inc’s market cap currently stands at around $19.67 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-11.
Analysts have a consensus estimate of 369.57M for the company’s revenue for the quarter, with a low and high estimate of 365M and 380.5M respectively. The average forecast suggests up to a 52.11% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.81B, representing a 39.28% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that RDDT is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell 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 -22.91% and -36.66% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 31.58, while 7-day volatility ratio is 10.06% and 9.96% in the 30-day chart. Further, Reddit Inc (RDDT) has a beta value of 2.77, and an average true range (ATR) of 13.78. Analysts have given the company’s stock an average 52-week price target of $112, forecast between a low of $75 and high of $220. Looking at the price targets, the low is 31.03% off current price level while to achieve the yearly target high, price needs to move -102.3%. Nonetheless, investors will most likely welcome a -2.99% jump to $112 which is the analysts’ median price.
If we refocus on Reddit Inc (NYSE:RDDT), historical trading data shows that trading volumes averaged 12.47 over the past 10 days and 6.97 million over the past 3 months. The company’s latest data on shares outstanding shows there are 125.00 million shares.
The 39.15% of Reddit Inc’s shares are in the hands of company insiders while institutional holders own 52.94% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 14.65 million on 2025-02-28, giving us a short ratio of 2.6. Current price change has pushed the stock -33.46% 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.
