Reddit (NYSE:RDDT) Earns Overweight Rating from Piper Sandler

Reddit (NYSE:RDDT)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They presently have a $290.00 target price on the stock. Piper Sandler’s price target would indicate a potential upside of 39.93% from the stock’s previous close.

A number of other research firms have also weighed in on RDDT. Bank of America increased their price objective 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. Citigroup reiterated an “outperform” rating on shares of Reddit in a report on Thursday, September 18th. Loop Capital dropped their price objective on Reddit from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, June 12th. Guggenheim boosted their target price on shares of Reddit from $165.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Roth Capital raised their price target on shares of Reddit from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Reddit has an average rating of “Moderate Buy” and an average target price of $201.58.

Reddit Stock Up 3.1%

Shares of RDDT opened at $207.24 on Friday. The business has a fifty day moving average of $224.76 and a 200 day moving average of $156.56. The company has a market cap of $38.79 billion, a PE ratio of 188.40, a P/E/G ratio of 3.26 and a beta of 2.23. Reddit has a 52-week low of $68.80 and a 52-week high of $282.95.

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

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $223.41, for a total transaction of $4,021,380.00. Following the transaction, the chief executive officer directly owned 494,104 shares in the company, valued at $110,387,774.64. This represents a 3.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 284,168 shares of the company’s stock, valued at approximately $61,974,199.12. This represents a 9.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 397,834 shares of company stock valued at $86,512,599 in the last 90 days. Insiders own 34.25% of the company’s stock.

Institutional Trading of Reddit

A number of hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after acquiring an additional 128 shares during the period. Stone House Investment Management LLC bought a new stake in Reddit during the first quarter valued at about $31,000. Financial Perspectives Inc bought a new stake in Reddit during the second quarter valued at about $34,000. Geneos Wealth Management Inc. grew its stake in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Reddit by 8,650.0% in the third quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock worth $40,000 after purchasing an additional 173 shares in the last quarter.

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.