Reddit (NYSE:RDDT) Sets New 52-Week High on Analyst Upgrade

Reddit Inc. (NYSE:RDDT)’s share price reached a new 52-week high on Tuesday after Oppenheimer raised their price target on the stock from $215.00 to $300.00. Oppenheimer currently has an outperform rating on the stock. Reddit traded as high as $267.80 and last traded at $266.38, with a volume of 1799752 shares changing hands. The stock had previously closed at $263.64.

RDDT has been the subject of a number of other reports. Wells Fargo & Company lifted their price objective on shares of Reddit from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $210.00 price objective on shares of Reddit in a research note on Friday, August 22nd. Needham & Company LLC lifted their price objective on shares of Reddit from $215.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler lifted their price objective on shares of Reddit from $150.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Argus started coverage on shares of Reddit in a research note on Monday, August 18th. They issued a “buy” rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Reddit has a consensus rating of “Moderate Buy” and a consensus price target of $191.42.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 14,000 shares of Reddit stock in a transaction on Monday, September 8th. The shares were sold at an average price of $236.51, for a total transaction of $3,311,140.00. Following the completion of the sale, the chief technology officer directly owned 210,534 shares of the company’s stock, valued at approximately $49,793,396.34. The trade was a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benjamin Seong Lee sold 6,426 shares of Reddit stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total transaction of $1,415,519.28. Following the sale, the insider directly owned 83,445 shares of the company’s stock, valued at $18,381,264.60. This represents a 7.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,126 shares of company stock worth $68,827,399 in the last three months. 34.25% of the stock is owned by insiders.

Institutional Trading of Reddit

A number of hedge funds have recently made changes to their positions in RDDT. Resona Asset Management Co. Ltd. increased its position in shares of Reddit by 0.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock valued at $3,023,000 after acquiring an additional 65 shares during the period. Congress Park Capital LLC increased its position in shares of Reddit by 2.0% in the second quarter. Congress Park Capital LLC now owns 3,885 shares of the company’s stock valued at $585,000 after acquiring an additional 76 shares during the period. Bienville Capital Management LLC increased its position in shares of Reddit by 0.5% in the second quarter. Bienville Capital Management LLC now owns 16,153 shares of the company’s stock valued at $2,432,000 after acquiring an additional 76 shares during the period. Platinum Investment Management Ltd. increased its position in shares of Reddit by 4.3% in the second quarter. Platinum Investment Management Ltd. now owns 2,322 shares of the company’s stock valued at $350,000 after acquiring an additional 95 shares during the period. Finally, Signaturefd LLC increased its position in shares of Reddit by 3.5% in the first quarter. Signaturefd LLC now owns 2,859 shares of the company’s stock valued at $300,000 after acquiring an additional 97 shares during the period.

Reddit Stock Up 1.1%

The business’s 50-day simple moving average is $200.91 and its 200-day simple moving average is $147.11. The stock has a market cap of $49.87 billion, a PE ratio of 242.21, a PEG ratio of 4.18 and a beta of 2.40.

Reddit (NYSE:RDDT) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.25. Reddit had a net margin of 12.97% and a return on equity of 9.93%. The company had revenue of $499.63 million for the quarter, compared to analysts’ expectations of $424.07 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Reddit’s quarterly revenue was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Reddit Company Profile

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.