Analysts have varying views on the stock, with 6 analysts rating it as a “buy,” 4 rating it as “overweight,” 6 as “hold,” and 0 as “sell.”
The public float for RDDT is 97.10M, and currently, shorts hold a 7.98% of that float. The average trading volume for RDDT on November 19, 2024 was 5.38M shares.
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RDDT) stock’s latest price update
The stock price of Reddit Inc (NYSE: RDDT) has jumped by 3.72 compared to previous close of 124.78. Despite this, the company has seen a gain of 0.15% in its stock price over the last five trading days. fool.com reported 2024-11-16 that A great portfolio needs balance.
RDDT’s Market Performance
Reddit Inc (RDDT) has seen a 0.15% rise in stock performance for the week, with a 59.98% gain in the past month and a 135.22% surge in the past quarter. The volatility ratio for the week is 4.66%, and the volatility levels for the past 30 days are at 5.65% for RDDT. The simple moving average for the past 20 days is 16.66% for RDDT’s stock, with a 99.18% simple moving average for the past 200 days.
Analysts’ Opinion of RDDT
Many brokerage firms have already submitted their reports for RDDT stocks, with Jefferies repeating the rating for RDDT by listing it as a “Buy.” The predicted price for RDDT in the upcoming period, according to Jefferies is $90 based on the research report published on October 09, 2024 of the current year 2024.
B. Riley Securities, on the other hand, stated in their research note that they expect to see RDDT reach a price target of $75. The rating they have provided for RDDT stocks is “Buy” according to the report published on September 20th, 2024.
Loop Capital gave a rating of “Buy” to RDDT, setting the target price at $75 in the report published on August 01st of the current year.
RDDT Trading at 51.87% from the 50-Day Moving Average
After a stumble in the market that brought RDDT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.92% of loss for the given period.
Volatility was left at 5.65%, however, over the last 30 days, the volatility rate increased by 4.66%, as shares surge +64.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +125.23% upper at present.
During the last 5 trading sessions, RDDT rose by +0.15%, in comparison to the 20-day moving average, which settled at $110.94. In addition, Reddit Inc saw 156.58% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RDDT starting from Tencent Holdings Ltd, who sale 375,984 shares at the price of $128.04 back on Nov 18 ’24. After this action, Tencent Holdings Ltd now owns 8,356,011 shares of Reddit Inc, valued at $48,141,618 using the latest closing price.
Tencent Holdings Ltd, the 10% Owner of Reddit Inc, sale 265,290 shares at $132.17 during a trade that took place back on Nov 14 ’24, which means that Tencent Holdings Ltd is holding 8,973,304 shares at $35,064,181 based on the most recent closing price.
Stock Fundamentals for RDDT
Current profitability levels for the company are sitting at:
- -0.54 for the present operating margin
- 0.89 for the gross margin
The net margin for Reddit Inc stands at -0.48. The total capital return value is set at -0.31. Equity return is now at value -31.80, with -28.80 for asset returns.
Based on Reddit Inc (RDDT), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at 21.24.
Currently, EBITDA for the company is -126.46 million with net debt to EBITDA at 0.85. When we switch over and look at the enterprise to sales, we see a ratio of 19.81. The receivables turnover for the company is 3.82for trailing twelve months and the total asset turnover is 0.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 11.96.
Conclusion
In conclusion, Reddit Inc (RDDT) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
