Reddit Inc (RDDT)’s stock price in review: A technical analysis

While Reddit Inc has overperformed by 2.71%, investors are advised to look at stock chart patterns for technical insight.

On December 09, 2024, Morgan Stanley Upgraded Reddit Inc (NYSE: RDDT) to Overweight. A report published by Jefferies on October 09, 2024, Initiated its previous ‘Buy’ rating for RDDT. B. Riley Securities also rated RDDT shares as ‘Buy’, setting a target price of $75 on the company’s shares in an initiating report dated September 20, 2024. ROTH MKM resumed its ‘Buy’ rating for RDDT, as published in its report on July 26, 2024. Loop Capital’s report from July 16, 2024 suggests a price prediction of $75 for RDDT shares, giving the stock a ‘Hold’ rating. Needham also rated the stock as ‘Buy’.

Analysis of Reddit Inc (RDDT)

Further, the quarter-over-quarter increase in sales is 67.87%, showing a positive trend in the upcoming months.

In order to gain a clear picture of Reddit Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -31.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 11.96, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.

An average volume of 6.14M can be a very valuable indicator of volatility for RDDT stock. On a monthly basis, the volatility of the stock is set at 6.68%, whereas on a weekly basis, it is put at 8.10%, with a gain of 18.02% over the past seven days. Furthermore, long-term investors anticipate a median target price of $131.50, showing decline from the present price of $167.17, which can serve as yet another indication of whether RDDT is worth investing in or should be passed over.

How Do You Analyze Reddit Inc Shares?

In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 43.42%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 39.08% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.

RDDT shares are owned by institutional investors to the tune of 39.08% at present.

Related Posts