In yesterday’s Wall Street session, Reddit Inc. (NYSE:RDDT) shares traded at $56.69, down -4.42% from the previous session.
RDDT stock price is now 15.71% away from the 50-day moving average and 15.71% away from the 200-day moving average. The market capitalization of the company currently stands at $9.03B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target enhanced from $55 to $63, Needham maintained Buy rating for Reddit Inc. (NYSE: RDDT). On April 16, 2024, Deutsche Bank recently initiated its ‘Buy’ rating on the stock quoting a target price of $50, while ‘BofA Securities’ rates the stock as ‘Neutral’
In other news, Sauerberg Robert A., Director bought 10,000 shares of the company’s stock on Mar 25 ’24. The stock was bought for $340,000 at an average price of $34.00. Upon completion of the transaction, the Director now directly owns 10,000 shares in the company, valued at $0.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 25 ’24, Director Habiger David C bought 3,000 shares of the business’s stock. A total of $102,000 was incurred on buying the stock at an average price of $34.00. This leaves the insider owning 24,906 shares of the company worth $1.41 million. A total of 82.83% of the company’s stock is owned by insiders.
During the past 12 months, Reddit Inc. has had a low of $37.35 and a high of $74.90. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 12.27, and a quick ratio of 12.27. The fifty day moving average price for RDDT is $49.14 and a two-hundred day moving average price translates $49.14 for the stock.
The latest earnings results from Reddit Inc. (NYSE: RDDT) was released for 2024-03-31. The net profit margin was -68.50% and return on equity was -6.23% for RDDT.
