Analysts’ Weekly Ratings Changes for Reddit (RDDT)

Several brokerages have updated their recommendations and price targets on shares of Reddit (NYSE: RDDT) in the last few weeks:

• 1/22/2025 – Reddit was downgraded by analysts at Roth Mkm from a “buy” rating to a “neutral” rating. They now have a $195.00 price target on the stock, up previously from $116.00.
• 1/22/2025 – Reddit was downgraded by analysts at Roth Capital from a “strong-buy” rating to a “hold” rating.
• 1/21/2025 – Reddit had its price target raised by analysts at Raymond James from $150.00 to $200.00. They now have a “strong-buy” rating on the stock.
• 1/14/2025 – Reddit had its price target raised by analysts at Piper Sandler from $150.00 to $197.00. They now have an “overweight” rating on the stock.
• 1/14/2025 – Reddit had its price target raised by analysts at The Goldman Sachs Group, Inc. from $105.00 to $176.00. They now have a “neutral” rating on the stock.
• 1/14/2025 – Reddit had its price target raised by analysts at B. Riley from $112.00 to $187.00. They now have a “buy” rating on the stock.
• 1/8/2025 – Reddit had its price target raised by analysts at Bank of America Co. from $99.00 to $180.00. They now have a “neutral” rating on the stock.
• 12/20/2024 – Reddit had its price target raised by analysts at Citigroup Inc. from $120.00 to $200.00. They now have a “buy” rating on the stock.
• 12/20/2024 – Reddit is now covered by analysts at Guggenheim. They set a “buy” rating and a $210.00 price target on the stock.
• 12/11/2024 – Reddit is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $206.00 price target on the stock.
• 12/11/2024 – Reddit had its price target raised by analysts at Robert W. Baird from $100.00 to $160.00. They now have a “neutral” rating on the stock.
• 12/11/2024 – Reddit had its price target raised by analysts at Needham & Company LLC from $120.00 to $190.00. They now have a “buy” rating on the stock.
• 12/9/2024 – Reddit was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $200.00 price target on the stock, up previously from $70.00.
• 12/2/2024 – Reddit had its price target raised by analysts at Loop Capital from $120.00 to $180.00. They now have a “buy” rating on the stock.
• 11/25/2024 – Reddit had its price target raised by analysts at JMP Securities from $118.00 to $160.00. They now have a “market outperform” rating on the stock.
• 11/25/2024 – Reddit had its price target raised by analysts at Jefferies Financial Group Inc. from $120.00 to $175.00. They now have a “buy” rating on the stock.

Reddit Price Performance

Reddit stock traded up $0.25 during midday trading on Friday, hitting $182.24. The company’s stock had a trading volume of 3,920,665 shares, compared to its average volume of 4,830,885. The stock’s 50-day moving average price is $162.23 and its 200-day moving average price is $103.46. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $191.00.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.23. The company had revenue of $348.40 million during the quarter, compared to analyst estimates of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The firm’s quarterly revenue was up 67.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reddit, Inc. will post -3.48 EPS for the current fiscal year.

Insider Transactions at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $113.13, for a total transaction of $1,583,820.00. Following the completion of the sale, the chief executive officer now owns 651,775 shares of the company’s stock, valued at $73,735,305.75. This represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Porter Gale sold 5,000 shares of Reddit stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $114.40, for a total transaction of $572,000.00. Following the completion of the transaction, the director now directly owns 46,459 shares in the company, valued at approximately $5,314,909.60. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,357 shares of company stock worth $39,528,738 in the last 90 days.

Institutional Trading of Reddit

Hedge funds have recently bought and sold shares of the stock. Ridgewood Investments LLC boosted its holdings in Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. grew its position in Reddit by 10.8% in the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after acquiring an additional 150 shares during the period. Foundations Investment Advisors LLC raised its stake in Reddit by 3.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock worth $870,000 after acquiring an additional 155 shares in the last quarter. StoneCrest Wealth Management Inc. lifted its holdings in shares of Reddit by 2.6% during the third quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company’s stock valued at $451,000 after acquiring an additional 176 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Reddit by 41.9% during the fourth quarter. AdvisorNet Financial Inc now owns 681 shares of the company’s stock valued at $111,000 after acquiring an additional 201 shares during the period.

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.