The price of Reddit Inc (NYSE:RDDT) shares last traded on Wall Street rose 2.94% to $154.23.
RDDT stock price is now 49.44% away from the 50-day moving average and 120.89% away from the 200-day moving average. The market capitalization of the company currently stands at $27.08B.
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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, Huffman Steve Ladd, CEO & President sold 14,000 shares of the company’s stock on Nov 29 ’24. The stock was sold for $1,985,092 at an average price of $141.79. Upon completion of the transaction, the CEO & President now directly owns 634,971 shares in the company, valued at $97.93 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 25 ’24, Chief Financial Officer Vollero Andrew sold 19,838 shares of the business’s stock. A total of $2,841,286 was realized by selling the stock at an average price of $143.22. This leaves the insider owning 703,615 shares of the company worth $108.52 million. A total of 43.43% 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 $158.49. 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 $101.4582 and a two-hundred day moving average price translates $69.45469 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.
