Reddit (NYSE:RDDT) Given New $290.00 Price Target at Piper Sandler

Reddit (NYSE:RDDT) had its target price raised by Piper Sandler from $210.00 to $290.00 in a research note issued to investors on Thursday, Marketbeat reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently commented on RDDT. Bank of America boosted their price target on shares of Reddit from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Oppenheimer boosted their target price on shares of Reddit from $215.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company raised their target price on shares of Reddit from $115.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. Needham & Company LLC upped their price target on Reddit from $215.00 to $300.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Reddit from $145.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Reddit has a consensus rating of “Moderate Buy” and an average target price of $197.88.

Reddit Stock Performance

Shares of NYSE RDDT opened at $270.47 on Thursday. The stock has a fifty day moving average price of $205.88 and a two-hundred day moving average price of $148.68. The firm has a market cap of $50.62 billion, a P/E ratio of 245.88, a PEG ratio of 4.19 and a beta of 2.40. Reddit has a 1 year low of $63.60 and a 1 year high of $282.95.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The company had revenue of $499.63 million for the quarter, compared to the consensus estimate of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The company’s quarterly revenue was up 77.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. On average, research analysts predict that Reddit will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Reddit

In other news, CFO Andrew Vollero sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the transaction, the chief financial officer directly owned 284,168 shares in the company, valued at $61,974,199.12. The trade was a 9.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin Seong Lee sold 6,426 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $220.28, for a total value of $1,415,519.28. Following the sale, the insider owned 83,445 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 360,126 shares of company stock worth $73,529,359. 34.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reddit

Several large investors have recently made changes to their positions in RDDT. Valeo Financial Advisors LLC acquired a new position in Reddit in the second quarter worth approximately $253,000. Infini Capital Management Ltd acquired a new position in shares of Reddit during the 2nd quarter worth $602,000. Orion Porfolio Solutions LLC bought a new position in shares of Reddit during the 2nd quarter valued at $201,000. Munro Partners acquired a new stake in shares of Reddit in the 2nd quarter valued at $2,802,000. Finally, Nautilus Advisors LLC boosted its holdings in Reddit by 30.7% in the second quarter. Nautilus Advisors LLC now owns 4,618 shares of the company’s stock worth $695,000 after purchasing an additional 1,085 shares in the last quarter.

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.