Reddit Inc. (RDDT)’s stock is trading at $67.66 at the moment marking a rise of 4.57% from the last session close. As of this writing, shares are priced at -13.35% less than their 52-week high of $78.08, and 81.15% over their 52-week low of $37.35. Based on the past 30-day period, the stock price is -13.47% below the high and +20.75% above the low.
Further, it is important to consider RDDT stock ratios, particularly its price-to-sales ratio over the past twelve months, which stands at 12.53.RDDT’s price to book ratio for the most recent quarter was 6.01, resulting in an 6.62 price to cash per share for the period.
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How does Reddit Inc. (RDDT) stock rate among analysts? Buy, sell, or hold?
The key to trading is to concentrate on the future rather than on the past. During uncertain times, it can be hard to make decisions. The analysts who understand how a market works are usually the most accurate at forecasting its future. Currently, there are 15 brokerage firms that recommend the stock as a Moderate Buy. The ratings are commonly aggregated into a single number between 1 and 5. Buy or strong buy is scored 5, outperform is scored 4, hold is scored 3, underperform is scored 2 and strong sell is 1. Using a scale of 1-5, the current average recommendation is 3.73 in simple terms.
Reddit Inc. (RDDT): Earnings History
If we examine Reddit Inc.’s recent earnings history, in the last quarter ended on 3/31/2024, it posted adjusted earnings per share of -$8.19, slashing the consensus of -$8.71. In other words, it beat the consensus by $0.52, resulting in a 6.00% surprise. In the 3 months period before the previous quarter which was closed on 3/31/2024, the stock recorded adjusted earnings per share of -$8.19 in contrast with the Outlook of -$8.71. That was a difference of $0.52 and a surprise of 6.00%.
Reddit Inc. (NYSE: RDDT) Ownership Details
I will give a breakdown of the key shareholders in Reddit Inc. (RDDT). Recent figures show that the company’s insiders hold 20.04% of shares. A total of 165 institutional investors hold shares in the company, making 48.78% of its stock and 61.00% of its float.
Mar 31, 2024, it was reported that the Company’s largest institutional holder is FMR, LLC holding total of 2.36 shares that make 5.31% of the company’s total number of shares and are currently priced at 160.43 million.
The securities firm Inclusive Capital Partners, LP holds 2.09 shares of RDDT, making it the second largest institutional shareholder. Taking this into account, the holding percentage comes to 4.70%, and the holding percentage of shares is valued at 142.01 million.
An overview of Reddit Inc.’s technicals
In order to learn about trade movements and investor behavior, it is best to analyze the short, medium, and long term technical indicators along with the average volume of a stock. A 20-day average of the stock’s daily volume suggests Reddit Inc. (RDDT) traded 2,815,831 shares per day, with a moving average of $67.97 and price change of +10.26. With the moving average of $62.31 and a price change of +16.16, about 3,424,546 shares changed hands on average over the past 50 days.
