Reddit Inc (NYSE:RDDT) shares traded 12.42% higher at $122.57 on Wall Street last session.
RDDT stock price is now 69.30% away from the 50-day moving average and 99.81% away from the 200-day moving average. The market capitalization of the company currently stands at $21.69B.
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With the price target of $90, Jefferies recently initiated with Buy rating for Reddit Inc (NYSE: RDDT). On September 20, 2024, B. Riley Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $75, while ‘Loop Capital’ rates the stock as ‘Buy’
In other news, Gale Mary Porter, Director sold 5,000 shares of the company’s stock on Nov 01 ’24. The stock was sold for $572,000 at an average price of $114.40. Upon completion of the transaction, the Director now directly owns 46,459 shares in the company, valued at $5.69 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 01 ’24, CEO & President Huffman Steve Ladd sold 14,000 shares of the business’s stock. A total of $1,583,878 was realized by selling the stock at an average price of $113.13. This leaves the insider owning 651,775 shares of the company worth $79.89 million. A total of 51.15% 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 $123.60. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 11.96, and a quick ratio of 11.96. The fifty day moving average price for RDDT is $71.1138 and a two-hundred day moving average price translates $61.023186 for the stock.
The latest earnings results from Reddit Inc (NYSE: RDDT) was released for 2024-09-30. The net profit margin was -47.83% and return on equity was -31.80% for RDDT. The company reported revenue of $348.35 million for the quarter, compared to $207.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 67.87 percent.
