Stocks of Reddit Inc (NYSE:RDDT) traded higher last session on Wall Street, up 1.51% to $165.91.
RDDT stock price is now 18.93% away from the 50-day moving average and 109.61% away from the 200-day moving average. The market capitalization of the company currently stands at $29.13B.
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 of $210, Guggenheim recently initiated with Buy rating for Reddit Inc (NYSE: RDDT). On December 11, 2024, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $206, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
In other news, Slowe Christopher Brian, Chief Technology Officer sold 11,000 shares of the company’s stock on Dec 23 ’24. The stock was sold for $1,868,375 at an average price of $169.85. Upon completion of the transaction, the Chief Technology Officer now directly owns 324,837 shares in the company, valued at $53.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 23 ’24, Chief Technology Officer Slowe Christopher Brian sold 5,000 shares of the business’s stock. A total of $849,120 was realized by selling the stock at an average price of $169.82. This leaves the insider owning 20,068 shares of the company worth $3.33 million. A total of 41.12% 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 $182.20. 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 $137.752 and a two-hundred day moving average price translates $78.85704 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.
