B. Riley Raises Reddit (NYSE:RDDT) Price Target to $87.00

Reddit (NYSE:RDDT) had its price target raised by B. Riley from $75.00 to $87.00 in a research note published on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Reddit’s FY2026 earnings at $0.81 EPS, FY2027 earnings at $1.62 EPS and FY2028 earnings at $2.57 EPS.

A number of other brokerages have also recently issued reports on RDDT. The Goldman Sachs Group lifted their price objective on Reddit from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Loop Capital raised Reddit from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, August 1st. Roth Mkm cut their price target on Reddit from $67.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC lifted their price target on Reddit from $75.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group assumed coverage on Reddit in a report on Wednesday, October 9th. They issued a “buy” rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and an average target price of $72.78.

Reddit Price Performance

Shares of NYSE RDDT opened at $77.53 on Monday. The business has a fifty day moving average of $64.58 and a two-hundred day moving average of $59.69. Reddit has a 52-week low of $37.35 and a 52-week high of $81.36.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $281.20 million for the quarter, compared to the consensus estimate of $253.86 million. The firm’s revenue was up 53.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.70) earnings per share. As a group, equities analysts forecast that Reddit will post -4.1 earnings per share for the current fiscal year.

Insider Transactions at Reddit

In other news, COO Jennifer L. Wong sold 33,334 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $76.27, for a total transaction of $2,542,384.18. Following the completion of the transaction, the chief operating officer now directly owns 1,542,457 shares in the company, valued at approximately $117,643,195.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Andrew Vollero sold 11,287 shares of Reddit stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $64.00, for a total transaction of $722,368.00. Following the transaction, the chief financial officer now owns 840,379 shares in the company, valued at $53,784,256. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer L. Wong sold 33,334 shares of Reddit stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $76.27, for a total value of $2,542,384.18. Following the transaction, the chief operating officer now owns 1,542,457 shares in the company, valued at $117,643,195.39. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,327 shares of company stock worth $23,115,824.

Hedge Funds Weigh In On Reddit

Several institutional investors have recently modified their holdings of RDDT. Congress Park Capital LLC bought a new position in shares of Reddit during the 1st quarter valued at about $279,000. Commonwealth Equity Services LLC bought a new stake in Reddit in the 1st quarter valued at approximately $1,111,000. BNP Paribas Financial Markets bought a new stake in Reddit in the 1st quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in Reddit in the 1st quarter valued at approximately $265,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Reddit in the 1st quarter valued at approximately $63,000.

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.