Reddit Inc. [NYSE: RDDT] surged by $2.23 during the normal trading session on while it closed the day at $63.61.
The market cap for RDDT stock reached $10.40 billion, with 44.29 million shares outstanding and 30.51 million shares in the current float. Compared to the average trading volume of 4.59M shares, RDDT reached a trading volume of 3824112 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Here’s what leading stock market gurus have to say about Reddit Inc. [RDDT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RDDT shares is $61.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RDDT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for Reddit Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 08, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on April 16, 2024, representing the official price target for Reddit Inc. stock. Previously, the target price had yet another raise to $46, while BofA Securities analysts kept a Neutral rating on RDDT stock.
The Average True Range (ATR) for Reddit Inc. is set at 4.30, with the Price to Sales ratio for RDDT stock in the period of the last 12 months amounting to 11.78. The Price to Book ratio for the last quarter was 5.65, with the Price to Cash per share for the same quarter was set at 10.22.
RDDT stock trade performance evaluation
Reddit Inc. [RDDT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.65.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RDDT stock in for the last two-week period is set at 58.89, with the RSI for the last a single of trading hit 61.47, and the three-weeks RSI is set at 57.14 for Reddit Inc. [RDDT]. The present Moving Average for the last 50 days of trading for this stock 53.92, while it was recorded at 59.24 for the last single week of trading.
Reddit Inc. [RDDT]: An insightful look at the core fundamentals
Reddit Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.27 and a Current Ratio set at 12.27.
Earnings per share (EPS) analysis for Reddit Inc. [RDDT] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RDDT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Reddit Inc. go to 30.20%.
Reddit Inc. [RDDT]: Institutional Ownership
The top three institutional holders of RDDT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in RDDT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in RDDT stock with ownership which is approximately 5.8386%.
