Reddit, Inc. (NYSE:RDDT – Free Report) – Roth Capital increased their FY2024 earnings per share estimates for shares of Reddit in a research report issued on Wednesday, January 22nd. Roth Capital analyst R. Kulkarni now forecasts that the company will post earnings per share of ($3.48) for the year, up from their previous estimate of ($3.60). Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for Reddit’s current full-year earnings is ($3.48) per share. Roth Capital also issued estimates for Reddit’s Q4 2024 earnings at $0.31 EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.57 EPS, FY2025 earnings at $0.94 EPS and FY2026 earnings at $2.22 EPS.
Reddit (NYSE:RDDT – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.23. The firm had revenue of $348.40 million for the quarter, compared to the consensus estimate of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The business’s revenue was up 67.9% on a year-over-year basis.
View Our Latest Analysis on Reddit
Reddit Stock Performance
Reddit stock opened at $182.24 on Friday. The firm’s 50-day simple moving average is $163.38 and its 200 day simple moving average is $104.22. Reddit has a fifty-two week low of $37.35 and a fifty-two week high of $191.00.
Insider Buying and Selling at Reddit
In other news, Director Mary Porter Gale sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $114.40, for a total transaction of $572,000.00. Following the sale, the director now directly owns 46,459 shares in the company, valued at $5,314,909.60. This trade represents a 9.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benjamin Seong Lee sold 18,519 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 138,401 shares of the company’s stock, valued at $20,214,850.06. The trade was a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,357 shares of company stock worth $40,449,488.
Institutional Investors Weigh In On Reddit
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Reddit by 302.8% during the 3rd quarter. FMR LLC now owns 12,157,591 shares of the company’s stock valued at $801,428,000 after acquiring an additional 9,139,196 shares during the period. VY Capital Management Co. Ltd. purchased a new stake in shares of Reddit during the third quarter valued at $474,403,000. Jennison Associates LLC acquired a new position in Reddit in the 4th quarter worth approximately $494,861,000. Point72 Asset Management L.P. grew its position in Reddit by 3,172.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock worth $151,357,000 after purchasing an additional 2,225,895 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of Reddit by 177.6% during the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock worth $198,154,000 after purchasing an additional 1,923,109 shares during the period.
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.
Read More
- Five stocks we like better than Reddit
- What is the MACD Indicator and How to Use it in Your Trading
- Bloom Energy: Powering the Future With Decentralized Energy
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- Why Are These Companies Considered Blue Chips?
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Receive News & Ratings for Reddit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reddit and related companies with MarketBeat.com's FREE daily email newsletter.