Reddit (NYSE:RDDT) Price Target Raised to $187.00 at B. Riley

Reddit (NYSE:RDDT) had its target price lifted by B. Riley from $112.00 to $187.00 in a report released on Tuesday morning,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Reddit’s FY2025 earnings at $0.91 EPS, FY2026 earnings at $1.60 EPS, FY2027 earnings at $2.83 EPS, FY2028 earnings at $4.28 EPS and FY2029 earnings at $6.16 EPS.

Other equities analysts have also issued research reports about the stock. Piper Sandler upped their target price on shares of Reddit from $150.00 to $197.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird increased their price objective on shares of Reddit from $100.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Jefferies Financial Group lifted their target price on Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, November 25th. JMP Securities boosted their target price on Reddit from $118.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. Finally, Needham & Company LLC raised their price target on Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.25.

Reddit Trading Up 2.4 %

Shares of RDDT stock opened at $174.81 on Tuesday. The stock has a fifty day simple moving average of $156.38 and a two-hundred day simple moving average of $99.15. Reddit has a 52-week low of $37.35 and a 52-week high of $187.69.

Reddit (NYSE:RDDT) last issued its earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.23. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The company had revenue of $348.40 million for the quarter, compared to the consensus estimate of $313.61 million. The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. As a group, research analysts anticipate that Reddit will post -3.46 earnings per share for the current year.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 33,333 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $128.13, for a total value of $4,270,957.29. Following the transaction, the chief operating officer now owns 1,542,457 shares of the company’s stock, valued at $197,635,015.41. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Benjamin Seong Lee sold 18,519 shares of Reddit stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $146.06, for a total value of $2,704,885.14. Following the sale, the insider now owns 138,401 shares of the company’s stock, valued at approximately $20,214,850.06. This trade represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,023 shares of company stock valued at $31,699,295 in the last ninety days.

Institutional Investors Weigh In On Reddit

Large investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC increased its position in shares of Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Whittier Trust Co. purchased a new position in Reddit during the 3rd quarter worth $42,000. Daiwa Securities Group Inc. bought a new stake in Reddit during the 3rd quarter valued at $85,000. AdvisorNet Financial Inc lifted its holdings in shares of Reddit by 41.9% in the 4th quarter. AdvisorNet Financial Inc now owns 681 shares of the company’s stock worth $111,000 after buying an additional 201 shares during the period. Finally, SOA Wealth Advisors LLC. grew its position in shares of Reddit by 56.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock worth $126,000 after buying an additional 691 shares in the last quarter.

About Reddit

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.