The stock of Reddit Inc (NYSE:RDDT) last traded at $168.79, down -5.23% from the previous session.
RDDT stock price is now 39.80% away from the 50-day moving average and 126.89% away from the 200-day moving average. The market capitalization of the company currently stands at $29.64B.
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With the price target of $206, Wells Fargo recently initiated with Overweight rating for Reddit Inc (NYSE: RDDT). On December 09, 2024, Morgan Stanley Upgraded its previous ‘Equal-Weight’ rating to ‘Overweight’ on the stock increasing its target price from $70 to quote $200, while ‘Jefferies’ rates the stock as ‘Buy’
In other news, JENNIFER WONG, Officer bought 100,000 shares of the company’s stock on Dec 16 ’24. The stock was bought for $17,265,000 at an average price of $172.65. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 29 ’24, CEO & President Huffman Steve Ladd sold 14,000 shares of the business’s stock. A total of $1,985,092 was realized by selling the stock at an average price of $141.79. This leaves the insider owning 634,971 shares of the company worth $107.18 million. A total of 41.02% 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 $180.74. 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 $118.7662 and a two-hundred day moving average price translates $74.01527 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.
