Reddit Inc. (RDDT)’s stock has witnessed a price declined of -1.23% from the previous close with its current price standing at $64.20. Its current price is -17.78% under its 52-week high of $78.08 and 71.89% more than its 52-week low of $37.35. Based on the past 30-day period, the stock price is -4.29% below the high and +16.88% above the low.
Additionally, it is important to take into account RDDT stock ratios, including its price-to-sales ratio, which is 10.85 for the last tewlve months.RDDT’s price to book ratio for the most recent quarter was 5.61, resulting in an 6.27 price to cash per share for the period.
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 16 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 3.94 in simple terms.
Reddit Inc. (RDDT): Earnings History
If we examine Reddit Inc.’s recent earnings history, in the last quarter ended on 6/30/2024, it posted adjusted earnings per share of -$0.06, slashing the consensus of -$0.33. In other words, it beat the consensus by $0.27, resulting in a 81.80% surprise. In the 3 months period before the previous quarter which was closed on 6/30/2024, the stock recorded adjusted earnings per share of -$0.06 in contrast with the Outlook of -$0.33. That was a difference of $0.27 and a surprise of 81.80%.
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 23.00% of shares. A total of 209 institutional investors hold shares in the company, making 33.40% of its stock and 43.37% of its float.
Jun 30, 2024, it was reported that the Company’s largest institutional holder is FMR, LLC holding total of 3.02 shares that make 3.18% of the company’s total number of shares and are currently priced at 192.7 million.
The securities firm Vanguard Group Inc holds 2.44 shares of RDDT, making it the second largest institutional shareholder. Taking this into account, the holding percentage comes to 2.57%, and the holding percentage of shares is valued at 156.09 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 3,819,414 shares per day, with a moving average of $60.11 and price change of +6.67. With the moving average of $59.41 and a price change of -8.05, about 3,902,806 shares changed hands on average over the past 50 days. Finally, RDDT’s 100-day average volume is 3,782,504 shares, alongside a moving average of $59.95 and a price change of +19.05.
