Currently, there are 44.29M common shares owned by the public and among those 30.43M shares have been available to trade.
The company’s stock has a 5-day price change of -6.98% and 12.62% over the past three months. It has a 12-month low price of $37.35 and touched a high of $78.08 over the same period. RDDT has an average intraday trading volume of 3.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.35%, -13.57%, and -3.74% respectively.
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Institutional ownership of Reddit Inc. (NYSE: RDDT) shares accounts for 13.22% of the company’s 44.29M shares outstanding.
It has a market capitalization of $8.89B. The earnings-per-share (ttm) stands at -$3.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.81% over the week and 7.25% over the month.
Analysts forecast that Reddit Inc. (RDDT) will achieve an EPS of -0.33 for the current quarter, -0.28 for the next quarter and -0.54 for current fiscal year. The lowest estimate earnings-per-share for the quarter is -0.42 while analysts give the company a high EPS estimate of -0.42. Earnings per share for the fiscal year are expected to decrease by -240.62%, and 91.11% over the next financial year.
Looking at the support for the RDDT, a number of firms have released research notes about the stock. Loop Capital stated their Buy rating for the stock in a research note on August 01, 2024, with the firm’s price target at $75. ROTH MKM coverage for the Reddit Inc. (RDDT) stock in a research note released on July 26, 2024 offered a Buy rating with a price target of $67. Loop Capital was of a view on July 16, 2024 that the stock is Hold, while Needham gave the stock Buy rating on May 08, 2024, issuing a price target of $55- $63. Deutsche Bank on their part issued Buy rating on April 16, 2024.
